Forex and Crypto News

BTC/USD technical analysis December 16

12:57 16 December /2019

Bitcoin continues to decline on Monday, December 16th. On the daily chart, the price is still moving near the upper border of the channel, which began to form since June 26. The price outlined for itself support levels in the area of $6800 and $6400. But for these support levels to come into play, bears need to try to break through the psychological level of $7000.

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The RSI indicator is formed in the neutral zone, which provides support to Bitcoin. This support can help the price move to the $7500 area, right up to the $7800 mark. But for this to happen, the bulls will have to overcome strong resistance in the area of $7277.

Over the past months, bears have prevailed over bulls, which triggered a decrease in Bitcoin price volatility. And such a lull can speak of the inevitability of a big step.

The MACD indicator is negative, but is moving sideways now. Feeling the uncertainty in the BTC market, it is important to wait for a clear movement in the areas from $7000 to $7277 and the breakdown of this level up.

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12:01 17 December /2018