Price Analysis

Bitcoin Price Analysis: December 12, 2019: BTC Exhibits Dramatic Movement Around the Day

Bitcoin price movement is quite unexpected. The opening hour experienced an astounding beginning. The price touched $7,369, but it soon came down to $7135. The heavy fluctuation caused regression in the price for the next few hours.

Bitcoin price was later spotted improving. The improvement spiked some hope in the traders, but at the same time, the dramatic move is considered scary. If the improvement in the BTC lasted, then the traders can expect a profitable closing.

Bitcoin Price Prediction

Bitcoin News
BTC Chart By TradingView

Yesterday, BTC started dealing at $7,253. The price improved and touched $7,285 by a marginal hike. The price slipped to $7,235 by 0.83%. The currency improved in the later hours and touched $7,245 by 0.50%. The currency touched $7,240 by 0.50%. The price escalated to $7,290 by 0.75%. Bitcoin price slipped to $7,180 by 1.63% drop. The coin improved and touched $7,235 by 0.77%. The price remained locked at the level and closed the day at $7235. The intraday movement reflected a 0.33% regression in the price. Today, the currency moved to $7,369 by 1.16%. Then, it slipped to $7,137 by 3.15%. The price escalated to $7,215 by 1.04%. Then, again, the Bitcoin price slipped to $7,153 by 0.89% regression. Recently, BTC/USD price improved and touched $7,233 by 1.11%.

Bitcoin price is currently dealing at $7,235. The currency might cross the same in some time. The dramatic movement in the coin is speculated to take the coin downhill again.

Resistance LevelPriceSupport LevelPrice
R1$7,295.88S1$7,167.25
R2$7,374.34S2$7,117.08
R3$7,424.51S3$7,038.62

BTC is the top player in the crypto market. The currency is recommended for long-term traders. The same would bring the desired result to the traders.

Tags

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
Back to top button
Close