RATE Group | Bitcoin (BTC) may jump to $9,100 ahead of Christmas
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Bitcoin (BTC) may jump to $9,100 ahead of Christmas

13 Dec Bitcoin (BTC) may jump to $9,100 ahead of Christmas

Posted at 09:43h in Bitcoin News by

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  • BTC/USD has been moving in a tight range recently.
  • Santa’s rally may take the price to the long-term resistance line.

Bitcoin (BTC) has bee paralyzed at $7,200 since Thursday. The first digital asset attempted a recovery towards $7,600 at the beginning of the week. However, the upside momentum proved to be unsustainable as the price retreated to the lower boundary of the recent consolidation channel.  At the time of writing, BTC/USD is changing hands at $7,202, mostly unchanged both on a day-to-day basis and since the beginning of Friday. 

Low volatility and non-existent trading activity confined the market to tight ranges, but the situation may change ahead of the weekend. We are moving towards the holiday season, which is often characterized by low liquidity conditions. It means that the market may be vulnerable to sharp exaggerated movements. Many traders might start taking their money off the table to avoid losses. 

Historically, Bitcoin tends to grow…

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