Written by Albert LibenzoncontributorReviewed by Cyril Gilsonformer editorDaily Bitcoin Price Analysis: What Is Bitcoin’s Next Move?
MagazinePublishedDec 21, 2015
December 21, no interesting macroeconomic data publishing is expected, and today we expect a continuation of the bearish trend.
Throughout the last week Bitcoin’s price was in the corridor of $440 - $460. By the end of the week, it moved to $458. However, on the weekend Bitcoin dipped significantly to $433. The reason for such a change was the strengthening of the Dollar, which this time did affect the Bitcoin price. Last week, we were watching as the Dollar grew because of stronger statistics and interest rate rises.
On Monday, December 21, no interesting macroeconomic data publishing is expected, neither in Europe nor in the United States. Today we expect a continuation of the bearish trend and trading at the level of $430 but with a possible decrease to $425 and $420.
On December 21, the resistance level for Bitcoin price is $450, while the support levels are $420 and $425.
Today’s most relevant question is: What is it – the beginning of a bearish trend or a technical rebound after many days of attempts to maintain the top positions?
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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