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BTC/USD: technical analysis course, 14-15 December 2018

A breakdown of key support level of $3280 bears opened the scope for reduction in the price of bitcoin to round the value $3000.

The four-hour chart of BTC/USD

At the final stage of the last day of trading sellers of bitcoin broke the price support cryptocurrencies at key level of $3280. Attempts of bulls to regain control of key level failed.

In turn, the bears in less than 12 hours consolidate additional volumes for sale and broke the local support level of $3240. Session low BTC/USD was fixed at $3160.

14 декабря BTCUSD H4
14 Dec BTCUSD H4

The price movement indicates weak support of the price of the cryptocurrency. Purchases are low values of relative strength index in the oversold zone, Lin RSI14 is pointing down.

Given the technical studies, we assume that the pair BTC/USD will continue until the end of the current trading week. It is expected that the support price of scriptactive buyers will form at the second key level of $3060.


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