ProEX Bitcoin price analysis - 2020.12.16

https://upload.cc/i1/2020/12/16/AK3PER.png

for the first time, BTC has not  break through the previous 4hr high since the bounce from 17,500. But this does not mean the bear has took control, but only shows the bull has been weaken.
Although there is a upward trend line from 17,500  and looks like triangle convergence, but its too sharp so we wouldnt suggest you to open long at this moment, especially its near the previous ATH.

Traders should wait for BTC to break through the previous 4hr high 19,600, which is too close to the previous ATH, or pull back to 18990 and formed a clear trend.


https://upload.cc/i1/2020/12/16/tBQD5v.jpeg




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