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BTC/USD: technical analysis course, 25-26 Dec 2018

Bears actively consolidate large volumes for sales of bitcoin above the reversal level of the medium-term trend at $3770.

The four-hour chart of BTC/USD

After the breakdown of the local support level of $4020 on the opening day, the price of bitcoin got a temporary support at $3730.

Attempts of bulls to regain control of the price above the level of a trend reversal $3770 determined the consolidation of large volumes for sale above this level.

25 декабря BTCUSD H4
25 Dec BTCUSD H4

It should be noted that currently, the moving average EMA100 is putting pressure on the short-term the pair BTC/USD and increases the resistance of the sales on the pivot.

The price movement of bitcoin during afternoon trading indicates a bearish trend in the market. In turn, sellers of cryptocurrencies for achieving immediate short-term goals at $3500, it is necessary to break the support price in the range of $3680-3580.

It is expected that in the course of trading on bitcoin 25-26 December, the bears will test the density of the volumes on BTC within the designated range.


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