Only two days before the closing price of the year is set in stone. Most likely this will be a positive year as it started close to $3'670.
Current support/resistance: $7150/$7700
In the last days, Bitcoin was able to recover above $7'000, which was an important level consider the number of long positions that were in play. A long squeeze has been avoided and it seems that new support has formed close to $7'150. The 20 days moving average has been crossed the 27 December, giving a buy signal. As we explained in a previous Bitcoin Analysis, it is likely that the general downtrend will stop as the miner capitulation has come to an end and halving is getting closer. We can expect an upward extension in early 2020 if the consolidation is maintained over the next days.
Our indicators seem to be mitigated in the short term, with a Cyborg predicting 57% chances to go down in the next 24 hours and a Community sentiment positive but lower than the average. The days moving average and MACD are positive with a neutral RSI. This indicates that a strong push is not yet likely but consolidation should continue.
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