• Cryptocurrencies: 3431
  • Markets: 20635
  • Market Cap: $280027792833.44
  • 24h Vol: $183150405681.28

BTC Daily Analysis: $3500 on Sight

On the 11th December, yesterday, BTC re-tested the yellow box or the high levels of $3287 as we anticipated. Every time BTC has seen this level, there is a high level wick to the upper levels of $3400. Nouvive sees this going as far as $3537. 

What do the charts show us? 

Bullish

  • The level chosen is the supply zone usually to fill shorts, but also the level found is a volume gap that has historically been filled.
  • At time of charting, BTC is up by 1.27% – Asian Markets and London Open refusing to see the upper levels of $3200 again, Nouvive intelligence points this as historically a Green London open paves the way for during the day that can see a green day – even for Altcoins.
  • Buy side support has heavily been in favour during the early morning hours, matched by increasing volume and increasing 45 minute on 45 minute Market sentiment in favour of a successful Bitcoin bounce.
  • Accumulation according to the OBV has been increasing since 8pm GMT on the 11th December.

Bearish

  • BTC needs to fill $3347, if it goes down to fill this level, it is anticipated that it will also bounce off the bottom of the trend line at $3311.5.
  • A break of the trend line at $3311.5, would see Bitcoin go back into the Yellow supply/accumulation box again.

Nouvive Says: Bitcoin looks increasingly likely to break the upper trend line and visit $3537 – it is more than likely to be a single wick to refuel shorts.

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

Show Your Views:
  •  (0)
  •  (0)
  •  (0)
  •  (0)
2279

ViFeed Indicators

Bitcoin (BTC)
$9618.78
0.00 RSI
-1.78%
--
Ethereum (ETH)
$257.23
0.00 RSI
1.82%
--
XRP (XRP)
$0.28
0.00 RSI
-1.64%
--
Bitcoin Cash (BCH)
$399.52
0.00 RSI
-1.53%
--
Bitcoin SV (BSV)
$308.01
0.00 RSI
11.20%
--
Tether (USDT)
$1
0.00 RSI
-0.28%
--
Litecoin (LTC)
$72.29
0.00 RSI
0.02%
--
EOS (EOS)
$4.35
0.00 RSI
1.41%
--
Binance Coin (BNB)
$22.94
0.00 RSI
-0.59%
--
Tezos (XTZ)
$3.05
0.00 RSI
-0.08%
--
How did you get involved in Crypto?