Bitcoin (BTC) Price Analysis for December 29

image

Source: CryptoNewsNet Original Title: Bitcoin (BTC) Price Analysis for December 29 Original Link: All top 10 coins returned to the red zone at the beginning of the week, according to CoinStats.

Article image

BTC/USD

The price of Bitcoin (BTC) has dropped by 0.4% over the last day.

Article image

On the hourly chart, the rate of BTC might have set a local support at $86,701. As most of the daily ATR has passed, there are low chances of seeing sharp ups and downs by tomorrow.

Article image

On the longer time frame, the technical picture of the main crypto has not changed much. The price keeps trading in a wide range, accumulating energy for a further move.

In this regard, consolidation in the zone of $86,000-$90,000 is the most likely scenario for the current week.

Article image

From the midterm point of view, the situation is quite similar. The volume keeps going down, confirming the absence of buyers and sellers’ strength. All in all, traders are unlikely to expect sharp moves soon.

Bitcoin is trading at $87,611 at press time.

BTC-0.42%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)