Bitcoin (BTC) prepared a showdown with a key moving boilerplate (MA) toll trend on Dec. 19 with time running out for a strong 2022 close.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

"I vote nosotros bounce and stay bull"

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at $47,000 on Dec. nineteen, notwithstanding firmly in an established range.

That price is currently the location of Bitcoin'southward one-yr MA trendline, an of import historical line in the sand that has enabled considerable upside if BTC/USD preserves it as support.

"The 1yr MA is a pretty important bitcoin bull/conduct pivot level historically and we are sat right on it now," Philip Swift, creator of on-chain data resources Look Into Bitcoin, commented.

"I vote we bounce and stay bull."
BTC/USD i-week candle chart (Bitstamp) with 52-week MA. Source: TradingView

A bounce would all the same leave a vast amount of basis to recover to postal service an terminate-of-year endmost price even slightly in line with previous bullish expectations.

Among them are those of stock-to-menses model creator PlanB, who at the weekend acknowledged that his $100,000 target for 2022 was unlikely to hitting.

He added that he would not exist abandoning his models, which remain valid despite recent events.

No "Santa rally" for macro this yr

The unusual end to 2022 has also impacted traditional markets, meanwhile, with the archetype "Santa rally" nowhere to be seen last calendar week.

Related: Analyst lists 21 factors calling for Bitcoin toll upside — Just simply 4 bearish signals

Comments from the United States Federal Reserve provided a short-lived performance boost, but overall, progress has been limp compared to earlier in the year.

"Look as if mkts non staging typical Santa Rally," markets commentator Holger Zschaepitz concluded.

"Global stocks have lost $1.8tn in mkt cap this wk as investors reacted to hawkish Fed pin, spike in Covid cases & find themselves positioning into 2022 of already-elevated valuations. Stocks yet worth $118tn, 140% of global Gdp."

The immediate outlook was no more favorable, with the coronavirus omicron variant sparking fresh economic shutdowns gear up to last into the new year.