Bitcoin in 3 days soared 18%, approaching $3800: how the market will do next?

Since December 17th, in less than three days, bitcoin Against the From $3181 soared to $3776 dollars, or more than 18%.

In the Coinbase and Bitstamp encryption currency to the legal currency trading platform, bitcoin (Bitcoin, BTC) have been modified slightly to $3700, but the dominant encryption currency exceeded $3700 mark, the main resistance prompted analysts to consider the possibility of a test of the $3800 – $4200 range bit.

Since December 17th, in less than three days, bitcoin soared from $3181 to $3776, or more than 18%.

In the Coinbase and Bitstamp encryption currency to the legal currency trading platform, bitcoin (Bitcoin, BTC) have been modified slightly to $3700, but the dominant encryption currency exceeded $3700 mark, the main resistance prompted analysts to consider the possibility of a test of the $3800 – $4200 range bit.

Yesterday, bitcoin prices hovering at around $3500, a pseudonym for “dog” (Crypto Dog) encryption currency traders said, if bitcoin lost power, it could fall below $3400 mark, may rise to $3800.

Analysts say:

BTC consolidation below the resistance. If we lose the power, I hope to get $3400 in support. I was worried. Suddenly, I saw a $3800.

Since then, bitcoin has shown strong signs of a breakthrough $3800 resistance level. Since last December, the first week, bitcoin has been unable to break through the resistance.

Because of the serious oversold, bitcoin prices may rise sharply in the past week. Since November 28th, bitcoin dollar exchange rate continued to decline, experienced a sharp sell-off in a sell-off is not high.

As the market began to show the extreme oversold conditions, many of the major assets began to rebound correction of encryption, and ultimately promote the market valuation soared.

Those bits from the top short currency (approximately 1.95 million) traders also began to cash positions, they estimate the bitcoin Trading Center At the bottom of the medium-term between $3000 to $4000.

Translation: Kunming plus

Source: CCN

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