Receive all Cointelegraph news immediately in Telegram.
Lack of news and the calm actions of investors made yesterday a quiet day in the market. But there are no further declines and the price has found a strong position very quickly.
Daily Bitcoin Price Analysis by Albert Libenzon on CoinTelegraph: the recent decline in the Bitcoin price is closely interconnected with the Christmas holidays.
Bitcoin Price, Dollar, Christmas, Sideways trend, Analytics
Yesterday, the price of Bitcoin was near $420 almost all the time. A Lack of news and the calm actions of investors made yesterday a quiet day in the market.
Today at 3:00 p.m. London time we expect the publication of consumer confidence in December data in the US. The forecasted number of 93.3 against the previous 90.4 should have, a weak, but positive impact on the Dollar. If this indicator exceeds the forecasted number by two points, than the Dollar may get a very strong signal for growth.
Today, December 29, the sideways trend is expected to continue in the corridor of $415-$440. The level of support is $400. The level of resistance is $440.
Most probably, the recent decline in the Bitcoin price is closely interconnected with the Christmas holidays. We can also see that there are no further declines but the price has found a strong point in the area of $420 very quickly, and doesn’t fall below this. This shows the power of Bitcoin and its ability to resume growth immediately after the holidays.
Therefore, the relevant question today is – when should the rapid recovery of the bullish trend of Bitcoin be expected?
This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell Bitcoins.
Are you interested in bitcoin? Find it in our cryptocurrencies ratings and learn more.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
One fine body…
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact:
Reset letter sent.
Please checkout your mailbox for password reset details