Daily Bitcoin Price Analysis: If Bitcoin is Growing Again

December 7, can bulls succeed in breaking the resistance of the bears and reach new psychological level?

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Daily Bitcoin Price Analysis: If Bitcoin is Growing Again

Last Friday, the Bitcoin price has not changed significantly and the exchanges from BTC to USD were at the level $356 by the end of the week. However, by Monday morning December 7th, the Bitcoin price rose to $ 389. Given that today, the important US macroeconomic indicators will not be published, we don’t expect any major impact of the news on the Dollar rates.

Today, market players' attention will be riveted to Bitcoin. The BTC price correction is luckily over and buyers will try to take the initiative in their hands and reach the desirable psychological target level of $400. If this level is passed, it will open the way to the levels of $410 and $420. If the bulls do not succeed in breaking the resistance of the bears at the level of $390 and $400 then BTC/USD exchange rate can roll back to $380 and $370.

Today, December 7th, 2015, we can allocate the resistance levels of $400 and $410, while the support levels are at $ 370 and $ 360.

BTC/USD Chart

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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