So far Bitcoin has fallen over 17% in December alone. BTC has repeatedly broken support and is setting lower lows and lower highs almost every week. The market sentiment for cryptocurrency markets is mixed but leaning towards bearish as of late. Right now, the price is trading underneath overhead resistance and is failing to break out of it. A likely scenario for Bitcoin is for a failure to break past the trend line and ultimately for the price to retest the 46.7k Low. The stop-loss area for this trade is located just above the 50.7k zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.