On December 20th the price of bitcoin: long waiting for the callback

Bitcoin recently rebounded strongly enough to break through the double bottom of $3600 to $3700. This confirms that a rising trend is ongoing, but only when the buyer can keep the price higher than the region of interest. The Fibonacci retracement tool used in high and low swing of the latest, the results showed that 38.2% to 50% of the swing across the previous may as a support resistance. If so, bitcoin may fluctuate around the highs will rise to $4035 or even higher. This interesting field is also in line with the 100 SMA dynamic inflection point. In the moving average, 100 moving average is higher than the long-term average of 200 mobile, to confirm the path of least resistance is up. In other words, the upward trend is more likely to gain traction, rather than the reverse. The gap between the moving average is also expanding, enhanced to reflect the kinetic energy but more bullish, the callback rate is still likely to test 200 SMA dynamic support, slightly lower than the 61.8% Fib $3500.

Bitcoin recently rebounded strongly enough to break through the double bottom of $3600 to $3700. This confirms that a rising trend is ongoing, but only when the buyer can keep the price higher than the region of interest. In the moving average, 100 moving average is higher than the long-term average of 200 mobile, to confirm the path of least resistance is up. In other words, the upward trend is more likely to gain traction, rather than the reverse. The gap between the moving average is also expanding, enhanced to reflect the kinetic energy but more bullish, the callback rate is still likely to test 200 SMA dynamic support, slightly lower than the 61.8% Fib $3500.

RSI is lower, that the seller has control of the game, and may continue to push prices down further. However, this index is also close to the oscillation of the oversold area, shows that the seller may soon run out of money. Similarly, the random index is also close to the oversold region in the process of moving down, and higher may mark a return to see the head of the rally.

The overall trend is still downward

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