Bitcoin (BTC) Long Term Price Forecast- December 29

BTC/USD Long-term Trend: Bearish

Resistance levels: $7,200, $7,400, $7,600
Support levels: $3,900, $3,700, $3,500

The price of Bitcoin was in a bullish trend in the last week of December 2018. The crypto has an opening balance of $4,038.50 but traded and had closing price of $4,023 as at the time of writing. In the month of December, Bitcoin lost 0.38% of its capitalization. In December, neither the bulls nor the bears have control over the price of Bitcoin. The crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone .

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Meanwhile, the price of Bitcoin is likely to fall as the price is below the 12-day EMA and the 26-day EMA. In addition, the stochastic is in the oversold region but below the 20% range. This indicates that the price of Bitcoin is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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