Bitcoin coin hit the $7,000 support on Saturday, December 14 for the first time since November 27, but managed to keep above this important support level.
It successfully rebounded from the above-mentioned level on Sunday and closed the week in green, at $7,113. Still, it was 5.5 down on a weekly basis.
The most popular cryptocurrency opened the new trading period with a huge drop on Monday. It fell as low as $6,878 losing 3.3 percent of its value.
On Tuesday, December 17, the BTC-USD pair continued to slide and moved South to $6,600. It erased another 4.1 percent and reached territories not seen since May 2019.
The mid-week session on Wednesday brought some relive to bulls as the coin managed to recover to $6,884 midday and then moved above the mid-term downtrend channel and closed at $7,292 in the evening, adding 9.3 percent.
It successfully rebounded from the above-mentioned level on Sunday and closed the week in green, at $7,113. Still, it was 5.5 down on a weekly basis.
The most popular cryptocurrency opened the new trading period with a huge drop on Monday. It fell as low as $6,878 losing 3.3 percent of its value.
On Tuesday, December 17, the BTC-USD pair continued to slide and moved South to $6,600. It erased another 4.1 percent and reached territories not seen since May 2019.
The mid-week session on Wednesday brought some relive to bulls as the coin managed to recover to $6,884 midday and then moved above the mid-term downtrend channel and closed at $7,292 in the evening, adding 9.3 percent.
- As suggested on Monday, the BTC/USD pair successfully rebounded from sub-$7k levels and broke above the downtrend channel. We are looking at the Fibb level ar 61.80 for the next support.
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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.