The wider cryptocurrency ecosystem is in a heightened state of fear on December. half-dozen afterwards the Dec. three market sell-off continues to send ripples across the the sector and Bitcoin (BTC) price remains pinned below $l,000.

Information from Cointelegraph Markets Pro and TradingView shows that bulls are managing to hold BTC price to a higher place $49,000 but the general outlook suggests that boosted days of consolidation are in store.

BTC/USDT four-hour chart. Source: TradingView

Here's a look at what analysts are proverb most what to await from BTC price in the coming weeks.

Potent support in the lower $40,000s

Insight into the weekly cost action for Bitcoin was provided past marketplace analyst and pseudonymous Twitter user Rekt Capital who posted the following chart highlighting the major support and resistance zones traders should keep an eye on.

BTC/USD ane-calendar week chart. Source: Twitter

Rekt Capital letter said,

"BTC Weekly closed in a higher place the modest crimson surface area from which BTC has previously rebounded. BTC is threatening to lose this surface area only no confirmed breakdown. But beneath this expanse is the orange region, a stiff demand area which ended 2 -25% corrections in February and September."

Short term recovery to $52,000

Traders looking to avert inclement toll activity in the days ahead would be wise to sit on the sidelines and wait for the market to digest this latest pullback according to analyst and pseudonymous Twitter user Pentoshi, who posted the following chart suggesting a brusk term recovery in BTC price to $52,000.

BTC/USD 1-twenty-four hours chart. Source: Twitter

While the analyst does encounter an eventual recovery in the longer term, Pentoshi warned that the market could be inclement in the short term and traders may detect a improve entry point if they remain patient.

Pentoshi said,

"I can see BTC short-term trading back towards $52,000 but I think if y'all wait a few days/week you'll avoid chop. Buy in low to mid $40,000s. Not get trapped. Don't come across a reason to take new longs here atm. Going to wait for a new merchandise to come to me."

Related: Bitcoin could 'bulldoze people nuts' for months with $53K BTC price ceiling — analyst

Expect "chop" between $42,000 and $53,000

A last bit of insight was offered by independent market analyst Scott Melker, who posted the following tweet laying out the cost levels traders need to monitor closely.

As seen in the higher up tweet, Melker identified the range between $42,000 and $53,000 as the choppy zone that will drive traders basics, while a breakout to a higher place that zone is a positive sign for bulls. Co-ordinate to Melker, prices below $42,000 will indicate that bears have the upper manus in dictating BTC price for the foreseeable future.

The overall cryptocurrency marketplace cap at present stands at $2.285 trillion and Bitcoin's authorisation charge per unit is 40.6%.

The views and opinions expressed hither are solely those of the author and practice not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves gamble, y'all should conduct your own research when making a conclusion.