Bitcoin Price Watch [Christmas Eve Edition]: BTC Hits $4,200 USD but Is a Bear Market Incoming Again?

2018-12-24 18:34

As can be seen from the chart above, RSI(14) is still on its way up. As a result of this, the price of BTC has somewhat re-corrected itself.

Additionally, it can also be seen that the overhead resistance zone is currently pegged at around $4.2k. With that being said, the overall financial condition of Bitcoin looks to be stable right now (temporarily) .

BTC A Short Term Forecast

Upon having a quick look at what the immediate future of BTC looks like, we can see that the currency’s RSI(14) is currently lying in the “overbought range”. This is not a good sign for the altcoin, since twice in the past when the premier asset was in this territory, it experienced a massive economic turndown.

In terms of its current price action, it appears as though Bitcoin will surge past the $4.2k resistance mark today . However, certain indicators seem to point towards a downtrend soon— with levels all set to drop to the $3K area again.

Final Take

While certain indicators are on the side of BTC at the moment, the currency’s long term position still appears to be quite risky at the moment. It now remains to be seen how the future of the premier crypto asset plays out.

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bitcoin seen btc price overhead condition somewhat

Источник: bitcoinexchangeguide.com

bitcoin seen → Результатов: 126


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