Yesterday it was worth seeing it struggling to break however Bitcoin failed to break the downtrend channel.
The Bitcoin price today is $57,592.75 USD with a 24-hour trading volume of $36,012,441,495 USD. Bitcoin is down 0.65% in the last 24 hours, with a live market cap of $1,087,812,808,988 USD. It has a circulating supply of 18,888,018 BTC coins.
Bitcoin Failed: Analysis
Yesterday Bitcoin soared in hopes to break above the resistance level and make a higher high but settled only for a long shadow – another lower low. The trend continues as Bitcoin retraced back to the $56,000 range after going briefly in the $59,000 area. If we look into the chart above we see an example of a breakout from such a pattern of lower lows and higher highs. December starts today and we believe it’s the Bull’s time.