Sirwin
Sirwin
Quite bullish, I would say.

Bitcoin's Expected Price Performance for December

By Ham | Bitcoin & Altcoins | 8 Dec 2020


As 2020 is going to wrap up, Bitcoin is almost closing in on it's previous all-time high of $20,000 USD, I have analyzed the charts and markets for any bullish or bearish signs out there.

The Correction

As I am sure everyone here has noticed, Bitcoin has been stagnant, hovering closely to $19,000. Almost as if the bears and the bulls are locked in a staring contest, waiting for either of them to flinch and make a move.

As Bitcoin's price stagnates, the trading volume has been shown to decrease considerably. What I predict here is that Bitcoin's price will dip around it's support area of $17,000 to $18,000, before going on a massive bull run against the psychological resistance of $20,000 again.

The Bull run

After this correction dip, Bitcoin will once again have a stand-off against this stubborn resistance of $20,000. I predict here that it is very likely Bitcoin will prevail, and it'll speed through up until the price point of $30,000, before retreating to the now support area of $20,000.

Overall, this year has been quite bullish not just for Bitcoin, but all the altcoins behind it, most notably Ripple (XRP).

How do you rate this article?

6


Ham
Ham

A technical analyst hamburger interested in Bitcoin!


Bitcoin & Altcoins
Bitcoin & Altcoins

For blogposts regarding the beautiful landscape of Cryptocurrencies!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.