Bitcoin Analysis (BTC/USD) Tuesday, December 11, 2018

During the session of today, the price of Bitcoin reports a decline of -2.29%, dragging the value to $3300 again. We can see how a selling force is preventing BTC from efficiently surpassing the $5000 resistance.

At this time we see an attempt to lateralize the price, as we saw weeks ago, this type of lateralization can lead to a new fall which could reach the support mentioned by many experts, we talk about the $ 1500.

Key Highlights

  • Bitcoin goes back below $ 3400
  • Lateralization in the price can lead to new fall
  • An uncertain picture for the BTC at least in 2018

It’s interesting how a lot of sellers are trying to keep BTC from rising above $ $5000; apparently they want to hold a low price for 2019 and this could be because of the BTC ETFs. 2019 is loaded with fundamentals for BTC so we could expect a significant increase, however large investors would find it very useful that BTC was cheap until the ETFs t others are confirmed or there is a strong rumor of approval.

At this time the EMA 9/26 mobile averages are maintained in an area that seeks lateralization, while the RSI continues above 35%. This outlook is disturbingly similar to the one observed weeks before BTC fell from $ 6500.

BTC/USD time frame 1 day

The purchase volume during today’s session is very low so we could experience lateralization during the week.

Technical indicators

  • Moving Averages EMA 9/26
  • RSI (relative strength index) 35% lateralized
  • Support $3000
  • Resistance $5000

 

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.