Price Predictions 12/15: Spx, Dxy, Btc, Eth, Bnb, Xrp, Sol, Doge,...

Bitcoin rallies continue to be capped by selling near the intra-day range highs, and the expectation of a Bank of Japan interest rate hike could amplify the downturn in BTC and altcoins.

Bitcoin attempted a recovery on Monday, but renewed selling pressure threatens to pull the price to $84,000.

Several altcoins are attempting to hold above their support levels, but the bounce lacks strength.

Bitcoin (BTC) attempted a recovery on Monday, but the bears continue to exert pressure. Trader CrypNuevo said in a thread on X that BTC could range between $80,000 and $99,000, and a break below $80,000 may sink the price to $73,000.

On similar lines, analyst Aksel Kibar said that BTC could start a directional move soon following the “extreme low volatility setup.” On the upside, Kibar expects a move to $100,000 if the $94,600 level is taken out, and on the downside, he anticipates BTC to bottom out in the $73,700 to $76,500 range.

Analysts are keeping an eye on the Bank of Japan (BoJ), which is expected to hike interest rates on Dec. 19. Previous instances of BoJ rate hikes since 2024 have resulted in a drawdown of more than 20% in BTC, according to data shared by AndrewBTC.

Could BTC and the major altcoins start a relief rally, or will the bears pull the price lower? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

The S&P 500 Index (SPX) turned down from the 6,920 resistance on Friday, indicating that the bears are aggressively defending the level.

If the price breaks below the moving averages, it suggests that the index could range between 6,550 and 6,920 for a few more days. A close below 6,550 will form a double-top pattern, opening the doors for a drop to the pattern target of 6,180.

Conversely, if the price rises above the moving averages and breaks above 6,920, it signals the resumption of the uptrend. The index could then surge toward the target objective at 7,290.

Source: CoinTelegraph