RATE Group | Bitcoin Weekly Forecast: BTC Eyeing Last Line Of Defense
70510
post-template-default,single,single-post,postid-70510,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Weekly Forecast: BTC Eyeing Last Line Of Defense

01 Dec Bitcoin Weekly Forecast: BTC Eyeing Last Line Of Defense

Posted at 05:30h in Bitcoin News by

[ad_1]

  • After a decent recovery, bitcoin price faced resistance near the $7,880 level against the US Dollar.
  • The price is currently correcting gains and it is trading near the $7,300 support area.
  • There is a crucial bearish trend line forming with resistance near $7,678 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The price might test $7,200 or $7,000 before a fresh wave towards the $7,700 resistance.

Bitcoin price is struggling to continue higher above $7,500 and $7,800 against the US Dollar. BTC is approaching the $7,000 support and it could bounce back.

Bitcoin Price Weekly Analysis (BTC)

This past week, bitcoin started a decent recovery wave from the $6,521 low against the US Dollar. BTC price gained pace above the $7,000 resistance area. Moreover, there was a break above the key $7,400 resistance area.

Finally, the price rallied above the $7,600 level, but it struggled to test the $8,000 resistance area. It seems like the price formed a short term top near the $7,880…

[ad_2]

Source link

Tags:
, , , , , ,