Bitcoin Price Analysis – 16/12/2019

Bitcoin price started December from the decline from approximately $7550 to the level of about $7100 with the further increasing trend to the level of the beginning of the month. However, the price rebounded from the $7550 resistance and started declining again, finally breaking a support of $7100. Currently the price is fluctuating around the support level.

Bullish scenario: The $7250 level is still the basic target of buyers. On a global scale, bulls are interested in the $7550-$7800 zone.
Bearish scenario: Bears are interested to test the $7000 level and in case of this scenario the area of $6600-$6000.
Neutral scenario: Further fluctuations near the control price of the $7000-$7250 area are expected.