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Bitcoin (BTC) Price Analysis for December 6

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Wed, 6/12/2023 - 15:30
Bitcoin (BTC) Price Analysis for December 6
Cover image via www.tradingview.com

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The bullish trend might not have ended yet, according to CoinMarketCap.

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BTC/USD

The rate of Bitcoin (BTC) remains one of the biggest gainers, rising by 5.28%.

Image by TradingView

Despite today's rise, the price of BTC keeps looking bullish on the hourly chart. Traders should focus on the nearest resistance of $44,349. If the bar closes near it, growth is likely to continue to $44,500 soon.

Image by TradingView

On the bigger time frame, yesterday's high bar plays a key role in terms of further price moves. 

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DOGE Price Analysis for December 5

As there are no bearish signals yet, the breakout, followed by a blast to $45,000 is the more likely scenario for the next days.

Image by TradingView

From the midterm point of view, the rate of BTC is far from the resistance of $48,200. However, if the candle closes with no long wick, there is a high possibility to expect a test of that level this month.

Bitcoin is trading at $44,235 at press time.

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