Bitcoin prices from $3700 to $4000 to support key rebound?

Over the past 12 hours, the price of bitcoin has risen from $3700 to $4000 on major trading platforms such as Coinbase and Bitstamp. In December 3rd, BTC was about to break down a major support of $4000, when some analysts said a fall in support could cause bitcoin to fall to about $3000.

The unexpected rapid recovery of bitcoin has prevented the dominant encrypted currency from falling to a range of $3300 to $3600.

Prior to a sudden rebound in bitcoin to $4000, technical analysts said the asset was very weak at $3800. “I don’t think there’s any reason to see it at this level. The mysterious dog said on Monday, “it’s not that it’s not going to rise to 3930 dollars or higher resistance, but it’s a gamble I’m not interested in.”

Technical indicators show a sharp drop in prices, but the price of BTC has emerged as an unpredictable rebound. Considering the relatively low trading volume of $5 billion 300 million in bitcoin and the widespread negative sentiment in the market, the possibility of a suitable trend reversal in the short term, but the possibility of a substantial appreciation of bitcoin to $5000 is still very small. “This will be an interesting trend, and this may be a reasonable reversal.” I kept my head clean until we began to break through 4000 dollars. The long hedging that left me in the balance of payments has not yet been set. While bitcoin can rebound from a small fall in December 3rd, other major encrypted currencies, including Bitcoin Cash (BCH), have been unable to maintain any form of momentum in a low price range. In the past 24 hours, BCH has fallen by more than 7%, down from $200 to $154 in 7 days, down by nearly 30%.

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Source: CCN

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