- Bitcoin thankfully saw a relief rally last night.
- This resurrection essentially erased the previous losses made over the past week or so.
- Bitcoin is now looking at a new resistance level of around $7.8k
After previously expecting to see some stalling around $6.5k mark, Bitcoin thankfully saw a relief rally last night. This resurrection essentially erased the previous losses made over the past week or so.
Bitcoin is now looking at a new resistance level of around $7.8k, but there is a chance that it could see a big recovery to $8k.
This comes from one crypto analyst under the name of Crypto Michaël who took to twitter to say:
$BTC #BITCOIN— Crypto Michaël (@CryptoMichNL) 22 December 2019
Green zone held for support here, which is the range low.
Currently at potential local resistance. Wouldn't be surprised with continuation of ranging for the coming days, before we make another push to $7,800-8,000 resistances later next week.
All in all, good. pic.twitter.com/vyumXpruOh
Another prominent analyst on Twitter, Josh Rager spoke on the opporutnies to short bitcoin at higher prices.
That being said, before we go any further it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
IMO shorting $7400s was a crowded trade— Josh Rager 📈 (@Josh_Rager) 23 December 2019
Everyone talking about it
I'm looking to short but higher
Price currently breaking through monthly open and 0.786 fib of this range
Price could fall here but I think it pushes higher pic.twitter.com/snTMJtMXCf
It will be interesting to see how the price plays out from here. For more news on this and other crypto updates, keep it with CryptoDaily!