Bitcoin (BTC<\/a>) kept $50,000 as a focus on Dec. 9 as consolidation on BTC\/USD continued to avoid last week\u2019s lows.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a>\u00a0showed the pair acting within a small range around the $50,000 mark overnight, this yet to become firm support.<\/p>\n \u201cA crucial area to hold is that region we\u2019ve touched already at $42K. The close was above $46-47K and I\u2019d prefer not to lose that at all.\u201d<\/p><\/blockquote>\n \u201cChop, chop, chop it is for Bitcoin,\u201d Cointelegraph contributor Micha\u00ebl van de Poppe wrote<\/a> on the day. <\/p>\n Amid broadly calmer conditions despite macro markets dealing with an unprecedented debt default<\/a> from China\u2019s Evergrande property giant, analysts thus focused increasingly on longer-term phenomena to gauge Bitcoin price action\u2019s overall health.<\/p>\n \u201cBitcoin appears on track,\u201d popular Twitter account TechDev summarized Wednesday in an optimistic discussion comparing this year to previous post-halving years 2013 and 2017.<\/p>\n A frequent topic for TechDev, the relationship, conditioned by halving cycles, has survived despite the most recent drawdown from all-time highs totaling 39%.<\/p>\n He further agreed with separate analysis from popular trader and analyst Rekt Capital, who late last week highlighted key Fibonacci levels for Bitcoin to hold and reclaim.<\/p>\n Very nice work. Did not see this. Agree with the positioning and outlook. Also see parallel to 2013 macro PA.<\/p>\n \u2014 TechDev (@TechDev_52) December 8, 2021<\/a><\/p><\/blockquote>\n Despite the similarities between cycles, however, commentators have conceded<\/a> that this time, Bitcoin will likely take longer to reach its cycle peak, leaving December without a classic blow-off top.<\/p>\n Altcoins were similarly calm overnight, with the only standout in the top 10 cryptocurrencies by market cap being Terra\u2019s LUNA token, up 11%<\/a>.<\/p>\n Related:\u00a0This Bitcoin price metric just hit \u2018oversold\u2019 for only the 7th time in 8 years<\/a><\/em><\/strong><\/p>\n Ether (ETH<\/a>) was down by 1.2% at the time of writing to just above $4,300 while maintaining almost four-year highs against BTC.<\/p>\n For Rekt Capital, $4,384 was the support level to reclaim<\/a> in order to fuel a retest of ground nearer all-time highs.<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/12b25d6b-a61b-41ff-808d-4205f347b9d3.png\")
Bitcoin \u201cappears on track\u201d<\/h2>\n
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Ether takes aim at BTC pair<\/h2>\n
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