Bitcoin (BTC) Price Analysis for December 18
The cryptocurrency market is neither bullish nor bearish as some cash are within the green zone, whereas others stay within the pink.
BTC/USD
The worth of Bitcoin (BTC) has barely risen since yesterday. Over the past week, nevertheless, the worth has fallen by 2.56%.
On the native timeframe, Bitcoin (BTC) continues yesterday’s sideways buying and selling, which is confirmed by declining quantity. If bulls wish to seize the initiative, they should restore the speed to the $16,800 mark and repair it above.
On the larger chart, Bitcoin (BTC) might need discovered a neighborhood backside at $16,572. On the similar time, the prospect to see a quick reversal is low as not sufficient power has been collected but.
Respectively, the extra doubtless state of affairs is buying and selling within the vary of $16,600-$16,800 for the subsequent couple of days.
Nonetheless, on the weekly timeframe, the autumn could proceed as bulls have failed to repair the worth above the $18,000 mark. If the candle closes with no lengthy wicks, the worth of Bitcoin (BTC) might take a look at the $16,000 zone by the top of the week. As well as, the shopping for quantity stays low, indicating bulls’ lack of curiosity within the present ranges.
Bitcoin is buying and selling at $16,714 at press time.
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