Bitcoin (BTC) Price Prediction for December 28
12/28/2024 19:30
How long will drop of Bitcoin (BTC) last?
Original U.Today article
How long will drop of Bitcoin (BTC) last?
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The market has turned to red again, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has dropped by 1.91% over the last 24 hours.
On the hourly chart, the price of BTC is trying to break the local resistance of $94,623. If it happens, the rise may continue to the $95,000 zone by the end of the week.
A less positive picture is on the bigger time frame. If buyers lose the interim area of $94,000, there is a chance of a test of the nearest support of $92,092.
A similar situation is on the weekly chart. At the moment, there are no reversal signals yet, which means there is still a chance of an ongoing decline.
Related
If the $92,000 level is broken, traders may witness a test of the $90,000 range shortly.
Bitcoin is trading at $94,544 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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