Daily Bitcoin (BTC) Analysis: December 4

In December 4 Bitcoin analysis, we evaluated the last situation of BTC/USDT before the weekend.

Bitcoin (BTC) managed to close the day with surplus, gaining 1 percent yesterday. The decline experienced on the first day of December was replaced by a recovery period for the last 48 hours. In December 4 Bitcoin analysis, we evaluated the last situation of BTC/USDT before the weekend.

Bitcoin (BTC) has been able to recover some of these losses in the past 2 days, seeing positive closings on a daily basis since it saw corrections to $ 18,000 in early December. However, intermediate resistance points emerging on the bullish path are restricting the movement of the BTC/USDT pair so far.

3-hour BTC/USDT Chart

When we look at yesterday’s Bitcoin movements, it can be seen that there is a significant resistance especially in the $ 19,400 band. Unable to break this level, BTC started the new day with sales again and dropped to the $ 19,100 band.

While the 19,400 upward hurdles are still up-to-date, higher dips are formed every day in the lower region as of December. Considering the 3-hour closures, we saw that BTC found balance at the bottom prices of 18,600 and 18,700, respectively. Purchases from these prices enabled the crypto money to enter the $ 19,000 band again. Today, if we take the EMA8 value in the daily view, the price of $ 18,850 may work as the critical support of the day.

On the support of $ 18,850, $ 19,150 could work as a second resistance point during the day today. In the upward price movements, the $ 19,400 resistance continues to remain on the agenda. If this area is crossed with the 3-hour candlestick close, an attack may come towards $ 19,700.

Lastest Stochastic RSI on Bitcoin

When we look at the last position of the stochastic RSI in the 3-hour view, its downward outlook draws attention. This situation, which can be perceived as a bearish signal, may continue the correction trend of BTC/USDT. When we look at the indicator on the daily chart, it is seen that the upward trend has slowed down in a broader perspective. Stoch RSI, which has moved to a horizontal position on the daily chart, may go up after the 19.400 resistance break and make a move to trigger the rise.

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Disclaimer: The information in the content is not an investment advice. Author and coinalways.com are not responsible for your profit or loss. Every investment involves risks and requires knowledge.

Coin Analistahttps://coinalways.com
Building his career on finance and banking, the veteran analyst decided to devote his experience to cryptocurrencies and forex. Co-founder @ Coin Always.

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