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Bitcoin (BTC) Long Term Price Forecast- December 1

Posted In: Forex Trading   Posted On: 2018/12/03 07:25 AM    Posted By: ituglobal

BTC/USD Long-term Trend: Bearish


Resistance levels: $7,200, $7,400, $7,600
Support levels: $4,000, $3,800, $3,600


The BTC/USD pair was bearish in the month of November 2018. The crypto's price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The digital currency is likely to fall in the month of December 2018.


Meanwhile, on November 1, Bitcoin has an opening balance of $6,362.99 and today, November 30, the price is at $4,098.88. The price of Bitcoin has depreciated by 35.58 % of its capitalization.


However, the entire bullish pullback has been erased by the bearish pressure. There will be no need for trade recommendation as the bearish pressure is ongoing.The MACD line and the signal line are below the zero line which indicates a sell signal.


Meanwhile, the price of Bitcoin is likely to fall as the price is below the 12-day EMA and the 26-day EMA.



The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.



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