Written by Albert LibenzoncontributorReviewed by Cyril Gilsonformer editorDaily Bitcoin Price Analysis: Pulse Rise of Bitcoin Continues
MagazinePublishedDec 10, 2015
December 10th, publication of data from US can increase the pressure on Bitcoin, and we may see some volatility in the market.
Yesterday the BTC/USD trading pair tried to gain a foothold at the level of $420 but failed. In the evening, we saw a pullback to $405. Today, we expect the publication of data on initial applications for unemployment insurance in December from the US. While tomorrow, the US will publish data on retail sales, which are expected to be positive. Publication of this information will increase the pressure on Bitcoin, and at the time of this news release, we may see some volatility in the market. In general, the Bitcoin price maintains on an upward trend, while the goal of $500 remains a possibility before the end of the year.
Today we expect that buyers will once again attempt to test the level of $420. To overcome this level would open the way to $430. Otherwise, we can expect a sideways trend within the range of $390 - $420.
On December 10th, 2015, the resistance levels are $420 and $430. The support levels are $400 and $390.
The analysis and prognosis are the personal views of the author and are not a recommendation to buy or sell Bitcoins.
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