Bitcoin Price Analysis Dec.13: Bitcoin Is Facing It’s Lowest Price Since September 2017

Bitcoin Price Analysis Dec.13: Bitcoin Is Facing It’s Lowest Price Since September 2017

In our yesterday BTC price analysis, we talked about a strong move which was anticipated.

Bitcoin was encountering resistance at the mid-term descending trend-line (as can be seen on the hourly chart). The bullish breakout had turned out to be fake, not been followed by a decent amount of trading volume.

The false breakout had resulted in the sharp move down we are witnessing now. During the past hour and as of writing this update, Bitcoin had touched the annual low at around $3200 (Bitstamp).

Looking at the 1-day & 1-hour charts

BTC/USD BitStamp 1-Hour chart

BTC/USD BitStamp 1-Day chart

Cryptocurrency charts by TradingView. Technical analysis tools by Coinigy.

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