Bitcoin price is below analysts' target of $100,000 But what about 2022?

Bitcoin price is at a critical juncture after this year's big competition. Analysts estimate $100,000 in 2022, but what do the tests show?

Bitcoin (BTC) could close in 2021 better than analysts' target estimate of $100,000. Kraken CEO Jesse Powell, who sees a target of $100,000 for Bitcoin, is bullish on the long term, but isn't deciding to go short in the short term.

One of the negative things that can frustrate Bitcoin in the short term is the Fed's change in monetary policy. On December 15, the Fed announced that it had ended its buying activity at a faster pace and expected our rates to rise in 2022.

BTC/USD Calendar

It collapsed last week. The moving average is low and the RSI is in negative territory, indicating that the downtrend is under control.

When the price retraces from its current level or the 20-day EMA ($50,054), the sentiment remains low and indicates that traders are selling competitively. This could send prices down to a one-day low of $42,333 on December 4.

This is an important level to fight as the bulls break out and the bears will attempt to push the price below the channel support. If they can do that, sales can be heavy.

The $39,600-$37,300 area could serve as strong support, but if the bulls don't push the price higher than the 20-day EMA, the loss could extend to $28,800.

Exchange, if the price breaks above the resistance of the channel, it indicates that the sales will fall. The pair might move to the 50-day SMA ($56,524), which again could be a big deal.

The bulls should push and hold the price above the 50-day SMA to signal the start of the upside to $60,000. These levels can be based on strong defenses, but if breached, the level can be tested anytime higher.