BITCOIN Will it hit 48k before the New Year?

Bitcoin (BTCUSD) is currently testing the 1-month Higher Lows trend-line that has been supporting the price action since the November 22 Low. Even though the 4H MA50 (blue trend-line) has been acting as a Pivot, the 4H MA200 (orange trend-line) has been intact and supporting since October 15 and is right below that Higher Lows trend-line.

Technically, the price action from December 08 until now is similar to that between November 09 - November 27. What followed after the (d) wave bottomed on the Higher Lows trend-line was a +21% rally.

If the final sequence is repeated as well, we can expect the 48300 March 2022 High to get tested.

But what do you think? Will that be the case and if so, do you expect 48k to get hit before January 01 2024? Feel free to let us know in the comments section below!

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