Bitcoin is in clouds

What's in this article

Bitcoin remains in clouds under bearish control as another week closed undecisive. Bitcoin is ranging under a line that can prove fatal.

  Bitcoin price today is $45,878.10 USD with a 24-hour trading volume of $31,219,773,047 USD.  Bitcoin is down 2.42% in the last 24 hours, with a market cap of $867,366,956,751 USD. It has a circulating supply of 18,905,906 BTC coins.

Source: Tradingview

Bitcoin: Analysis

Looking back on November 17 to December 03 the same pattern of making lower highs was observed and it concluded by pushing Bitcoin more than 26% from $57000 t0 $42000. The same pattern is underway and the bottom support is being tested again and again and can break at any time. The prediction arrow is from December 17 and Bitcoin is still following it. We have immediate support at $43600, fib 1.41. however, it can first rise to the resistance level of $48,000, fib 0.5 before an actual descend. If Bitcoin breaks above the previous high of $49,000, fib 0.236 – there is hope.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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