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.
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.