Bitcoin (BTC) Price Prediction for December 20
12/20/2024 22:37
How long may decline of Bitcoin (BTC) last?
Original U.Today article
How long may decline of Bitcoin (BTC) last?
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The correction continues on the crypto market, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 8% over the last 24 hours.
On the hourly chart, the price of BTC has made a false breakout of the local support level of $92,502. If the daily bar closes far from it, there is a chance to see a bounce back to the $96,000 mark.
On the bigger time frame, traders should focus on the nearest support of $92,092. If the candle's closure happens near it, one can expect a breakout, followed by a further correction to the $90,000 range.
From the midterm point of view, the picture is similar.
Related
If the weekly bar closes around $92,000, the decline may lead to the test of the $85,000-$90,000 area by the end of the month.
Bitcoin is trading at $96,688 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].
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