Bitcoin Technical Analysis (BTC/USD) Monday, December 10, 2018

Start the session today while the price of Bitcoin is trading above $ 3500 after the significant recovery during the session on Sunday the price has started a slight setback losing around $ 100 dollars.

During today’s session we noticed how the price of the BTC against the USD remains lateralized and we may have another upward momentum to how the US market is opening up.

Important factors

  • Bitcoin is negotiated above $ 3500
  • The RSI remains above 35%
  • There is a better market sentiment

Analyzing the BTC / USD chart in a one-day timeframe, we can see how the BTC has managed to settle above the $ 3500, this allows confidence in the market to have a greater increase as we move away from the point of support in the $ 3000.

The RSI remains above 35% so we could have an increase in the indicator above 50% incentivizing more traders to operate. On the other hand the EMA 9/26 mobile stockings seem to be stopping the fall and therefore we see a possible outlook of cross medium mobiles in the coming days, of course … to continue the positivism in the market.

I think it is still too early to enter with long operations; the best thing is for BTC to break the $ 4500 to have a clearer picture of price recovery with a target in the $ 5500.

BTC/USD time frame 1 day

Technical indicators

  • Moving averages EMA 98/26
  • RSI (Relative strength index) 35%
  • $ 3000 support
  • $ 5500 resistance

 

Disclaimer

This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.