Written by Albert LibenzoncontributorReviewed by Cyril Gilsonformer editorDaily Bitcoin Price Analysis: Strengthening of the Dollar ends, is Bitcoin Growing Again?
MagazinePublishedDec 24, 2015
During the Asian session, the Bitcoin price strengthened to $452. And this happens while we receive positive macroeconomic statistics from the US.
During the Asian session, the Bitcoin price strengthened to $452. And this happens while we receive positive macroeconomic statistics from the US. Moreover, other currencies also grow against the Dollar. These facts suggest the activity of a large number of buyers, both in Bitcoin and other currencies, and that buyers are so optimistic that this overcomes the resistance of the Dollar. This suggests that in the short term, the Bitcoin price could resume growing.
Today we expect the publication of the data on initial applications for unemployment benefits, but this shouldn’t affect the market much.
Today December 24, we expect Bitcoin’s price to move in the corridor of $445- $465. The resistance level is $465. The support level is $440
As we can see, both fundamental analysis and technical analysis can not predict the movement of prices in the market accurately. Sometimes we see that the price moves contrary to forecasts, or even common sense. So this is an interesting question – what moves the price, especially the price of Bitcoin?
This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell Bitcoins.
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