The cryptocurrency market is neutral at the end of the week, according to CoinStats.
BTC chart by CoinStatsBTC/USD
The price of Bitcoin (BTC) has gone up by 0.11% over the past day.
Image by TradingViewOn the hourly chart, the rate of BTC has made a false breakout of the local resistance of $88,500. If the daily bar closes far from that mark, one can expect a correction to the $86,000 zone soon.
Image by TradingViewOn the longer time frame, it is too early to make any long-term predictions even though the daily bar might close bullish. The volume remains low, confirming the absence of bulls and bears’ strength.
All in all, consolidation in the range of $87,000-$90,000 is the most likely scenario.
Image by TradingViewFrom the midterm point of view, the situation is similar. As none of the sides is dominating, one can expect sideways trading between $80,000 and $90,000 until the end of the month.
Bitcoin is trading at $88,260 at press time.
Source: https://u.today/bitcoin-btc-price-analysis-for-december-19
