Just as the Bitcoin price reached a new record high this week, the world’s first cryptocurrency pulled back and headed into consolidation territory. Bitcoin slumped back down below the $19K level not long after peaking on December 1st. And we’re seeing a battlefield in the range from $18,200 and $19,500 in the Bitcoin analysis today.
The bulls and bears are struggling to take control of the price, as this pullback will determine whether the Bitcoin December analysis will see yet another record. Consolidation periods are essential and retest old support levels in order to sustain an uptrend, which is what we are currently witnessing in the Bitcoin technical analysis.
And right now if the bulls manage to get the upper hand and keep the price above $19,000, the next price target on the upside is $19,400, where there’s significant resistance. And if there’s strong enough momentum to push beyond that level, then a new record may very well be on the horizon of the Bitcoin price prediction December 2020.
On the other hand, if the bears overpower the market and the Bitcoin price (USD) loses its support at $19,000, then the immediate support level beneath that in the Bitcoin analysis is at $18,650. And a further drop below that even makes for a Bitcoin prediction of declines all the way down to $17,800. Stay tuned to find out what we make of the Bitcoin price prediction (December).
Watch the full video to find out what our Bitcoin price prediction 2020 entails for the near future. And stay tuned for our next full Bitcoin price analysis! Have a different take on the Bitcoin price December 2020 forecast? Then let us know what your Bitcoin price forecast is in the comment section below!
What did you think of our Bitcoin price analysis December 2020? Let us know in the comments, and don’t forget to like and share this Bitcoin price prediction with your friends! And if you’re new to Capital.com, subscribe to our channel and always be up-to-date with the latest Bitcoin price news. Don’t forget to hit the notification bell so you don’t miss out on our next Bitcoin price forecast December 2020.
Explore trading and start investing with Capital.com.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.