Daily Bitcoin (BTC) Analysis: Hard crash next for bitcoin?

In our December 11 Bitcoin analysis, we evaluated the critical levels of BTC/USDT.

Bitcoin (BTC), after yesterday’s negative trend, continues its downward trend, starting the day with seller weight today. In our December 11 Bitcoin analysis, we evaluated the critical levels of BTC/USDT.

Bitcoin (BTC) lost 1.5 percent yesterday, closing the day at $ 18,250. Bitcoin, which lost 2 percent in the morning hours with sales continued during Asian trading hours, fell to $ 17,700.

BTC/USDT Daily Chart

btc/usdt
daily btc/usdt chart

When we look at the general situation of Bitcoin in December, the downtrend that started after the peak level draws attention. Especially when the support of $ 18,700 was broken on December 8, it is seen that the decline accelerated. Today, the Bitcoin price, which has gone below the 21-day EMA value, which is currently at $ 18,100 – $ 18,150, is now in a critical zone.


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As long as the BTC/USDT pair remains below the $ 18,100 – 150 band, it is likely to relax to $ 17,150. This level corresponds to the Fib 0.236 value according to the recent uptrend and can be interpreted as an important support price. In the event of a possible decline, if the $ 17,150 support is lost, this time $ 15,640, which corresponds to the Fib 0.382 value, may come to the agenda.
On the other hand, $ 17,150, which was tested once in the last days of November, worked as a solid support, and the historic peak was seen in early December.

BTC/USDT 3-Hours Chart

btc/usdt
btc/usdt 3H chart

When we look at the Bitcoin chart in a shorter 3-hour view, we can reach clearer figures for daily transactions. The negative outlook ranks from slow to fast and is confirmed by the bearish sloping outlook. On the other hand, when measured on the basis of the late November correction and the subsequent peak in early December, we see an intermediate support around $ 17,800. From this level, it coincides with an important retracement level of Fib 0.618 compared to the last low and high levels.

To summarize; Bitcoin has the possibility to move to the $ 17,800 – $ 18,150 band today. Hourly closes below $ 17,800 could trigger a prolongation of the bearish trend towards $ 17,300 -17,150. If hourly closes above 18,150 come, we can see a jump to $ 18,500.

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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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