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  • Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3010 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php). 
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('The Bitcoin price has surged above the 7,500 mark, adding $300 in mere minutes. BTC has managed to reach an intraday high of 7,592, <a rel="nofollow" target="_blank" href="https://coinstats.app/en/coins/bitcoin">CoinStats data</a> shows.&nbsp;&nbsp;&nbsp;
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<em>image by <a rel="nofollow" target="_blank" href="https://coinstats.app/en/coins/bitcoin">coinstats.app&nbsp;</a></em>
<a rel="nofollow" target="_blank" href="#">card</a>

Bulls managed to score a short-term victory by postponing a drop below the $7,000, which seemed pretty much inevitable based on the coin's grim technical picture.&nbsp;

Notably, Bitcoin managed to fill <a rel="nofollow" target="_blank" href="#">another&nbsp;CME gap</a>, which just goes to show how reliable this price indicator is. Most of the gaps that are created when Bitcoin futures are not traded on CME tend to get eventually filled sooner or later.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<blockquote class="twitter-tweet">
<a rel="nofollow" target="_blank" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>

CME gap filled. <a rel="nofollow" target="_blank" href="https://t.co/sjrnQic5LR">pic.twitter.com/sjrnQic5LR</a>
— Hsaka (@HsakaTrades) <a rel="nofollow" target="_blank" href="https://twitter.com/HsakaTrades/status/1202222239849934848?ref_src=twsrc%5Etfw">December 4, 2019</a></blockquote>


image by <a rel="nofollow" target="_blank" href="https://twitter.com/HsakaTrades/status/1202222239849934848/photo/1">@HsakaTrades</a>
The most recent upward move <a rel="nofollow" target="_blank" href="#">was in line with</a> an accurate fractal that shows a 20 percent pullback after a short-lived price bounce. Bitcoin could still drop to as low as $6,200 in December.

<blockquote class="twitter-tweet">
<a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>

Price action still following this fractal ever so closely...

If today's candle closes above $7300 I think we will see price reach somewhere around $7500 tomorrow.

And then... ? <a rel="nofollow" target="_blank" href="https://t.co/tGTUnSuMiT">pic.twitter.com/tGTUnSuMiT</a>
— NebraskanGooner? (@nebraskangooner) <a rel="nofollow" target="_blank" href="https://twitter.com/nebraskangooner/status/1201647681812271104?ref_src=twsrc%5Etfw">December 2, 2019</a></blockquote>
<em>image by <a rel="nofollow" target="_blank" href="https://twitter.com/nebraskangooner/status/1201647681812271104/photo/1">@nebraskangooner</a></em>
Hence,&nbsp;there could be more blood on crypto streets before the end of 2020.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
') (Line: 1037)
Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
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Drupal\Core\Render\Renderer->render(Array) (Line: 474)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 874)
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Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
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Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
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Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
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<em>image by <a rel="nofollow" target="_blank" href="https://coinstats.app/en/coins/bitcoin">coinstats.app&nbsp;</a></em>
<a rel="nofollow" target="_blank" href="#">card</a>

Bulls managed to score a short-term victory by postponing a drop below the $7,000, which seemed pretty much inevitable based on the coin's grim technical picture.&nbsp;

Notably, Bitcoin managed to fill <a rel="nofollow" target="_blank" href="#">another&nbsp;CME gap</a>, which just goes to show how reliable this price indicator is. Most of the gaps that are created when Bitcoin futures are not traded on CME tend to get eventually filled sooner or later.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<blockquote class="twitter-tweet">
<a rel="nofollow" target="_blank" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>

CME gap filled. <a rel="nofollow" target="_blank" href="https://t.co/sjrnQic5LR">pic.twitter.com/sjrnQic5LR</a>
— Hsaka (@HsakaTrades) <a rel="nofollow" target="_blank" href="https://twitter.com/HsakaTrades/status/1202222239849934848?ref_src=twsrc%5Etfw">December 4, 2019</a></blockquote>


image by <a rel="nofollow" target="_blank" href="https://twitter.com/HsakaTrades/status/1202222239849934848/photo/1">@HsakaTrades</a>
The most recent upward move <a rel="nofollow" target="_blank" href="#">was in line with</a> an accurate fractal that shows a 20 percent pullback after a short-lived price bounce. Bitcoin could still drop to as low as $6,200 in December.

<blockquote class="twitter-tweet">
<a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>

Price action still following this fractal ever so closely...

If today's candle closes above $7300 I think we will see price reach somewhere around $7500 tomorrow.

And then... ? <a rel="nofollow" target="_blank" href="https://t.co/tGTUnSuMiT">pic.twitter.com/tGTUnSuMiT</a>
— NebraskanGooner? (@nebraskangooner) <a rel="nofollow" target="_blank" href="https://twitter.com/nebraskangooner/status/1201647681812271104?ref_src=twsrc%5Etfw">December 2, 2019</a></blockquote>
<em>image by <a rel="nofollow" target="_blank" href="https://twitter.com/nebraskangooner/status/1201647681812271104/photo/1">@nebraskangooner</a></em>
Hence,&nbsp;there could be more blood on crypto streets before the end of 2020.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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Bitcoin Blasts Past $7,500, but Bulls Are Not Out of the Woods Yet

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article image
Alex Dovbnya
Here's why the most recent Bitcoin price pump to the $7,500 level could be a flash in the pan
Wed, 12/04/2019 - 14:13
Bitcoin Blasts Past $7,500, but Bulls Are Not Out of the Woods Yet
Cover image via 123rf.com
Read U.TODAY on
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The Bitcoin price has surged above the 7,500 mark, adding $300 in mere minutes. BTC has managed to reach an intraday high of 7,592, CoinStats data shows.   

Advertisement
Bitcoin Price
image by coinstats.app 

card

Bulls managed to score a short-term victory by postponing a drop below the $7,000, which seemed pretty much inevitable based on the coin's grim technical picture. 

Notably, Bitcoin managed to fill another CME gap, which just goes to show how reliable this price indicator is. Most of the gaps that are created when Bitcoin futures are not traded on CME tend to get eventually filled sooner or later.           

Bitcoin CME gap
image by @HsakaTrades

The most recent upward move was in line with an accurate fractal that shows a 20 percent pullback after a short-lived price bounce. Bitcoin could still drop to as low as $6,200 in December.

A Bitcoin fractal
image by @nebraskangooner

Hence, there could be more blood on crypto streets before the end of 2020.       

#Bitcoin Price Prediction
About the author
article image
Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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