Bitcoin: BTC Surprises Everyone Again (December 2019)
- 4 years ago
Bitcoin: BTC Surprises Everyone Again (December 2019)
Bitcoin surprised everyone once again as the price shot up past key resistance levels and touched $7,452 before declining sharply from there. In doing that, BTC/USD finally tested the 200 moving average. We have long been talking about a retest of the 200 moving average on the 4H time frame before the next decline. Now that the price has faced a strong rejection at that level, it is likely to decline further. Please note that it may still see further upside after declining to lower levels within the falling wedge. We could see an even more bullish move follow after the price declines to the bottom of the falling wedge but for now this rally seems to have run its course.
Bitcoin surprised everyone once again as the price shot up past key resistance levels and touched $7,452 before declining sharply from there. In doing that, BTC/USD finally tested the 200 moving average. We have long been talking about a retest of the 200 moving average on the 4H time frame before the next decline. Now that the price has faced a strong rejection at that level, it is likely to decline further. Please note that it may still see further upside after declining to lower levels within the falling wedge. We could see an even more bullish move follow after the price declines to the bottom of the falling wedge but for now this rally seems to have run its course.