Bitcoin (BTC) Price Analysis for December 20
The weekend has started with bulls’ dominance, however, there are some exceptions, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.25% over the last 24 hours.
On the hourly chart, the rate of BTC is in the middle of the local channel between the support of $87,791 and the resistance of $88,522. As neither side is dominating, sideways trading around the current price is the more likely scenario until tomorrow.
On the bigger time frame, the price of the main crypto is far from the main levels. The volume remains low, which means neither buyers nor sellers have accumulated enough strength to seize the initiative.
Bulls may only start thinking about an upward move if the nearest level of $90,000 is broken.
From the midterm point of view, the situation is similar. In this case, traders are unlikely to witness increased volatility until the end of the month.
Bitcoin is trading at $88,222 at press time.
