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Bitcoin (BTC) Price Analysis for December 12
Source: CryptoNewsNet Original Title: Bitcoin (BTC) Price Prediction for December 12 Original Link: Most coins are experiencing rate increases according to market data.
BTC/USD
The price of Bitcoin (BTC) has risen by 1.41% over the last 24 hours.
On the hourly chart, BTC is declining after a false breakout of the local resistance at $92,735. If the daily candle closes below this level, a correction could test the $90,500 zone by tomorrow.
On the daily timeframe, Bitcoin’s price is declining following a failed attempt to hold above the $94,172 resistance level. If conditions remain unchanged by day’s end, there’s a high probability of testing the $88,156 support zone soon.
From a medium-term perspective, traders should monitor the closure of the bar relative to the $94,172 resistance. If the bar closes significantly below this level, the interim zone of $85,000 could be tested next week.
Bitcoin is currently trading at $90,667.