For the last 3 years, the month of December has been prolific for the world’s largest digital asset ( ), which posted gains of 14%, 30%, and 40% in 2015, 2016 and 2017 respectively. That “winning streak” might snap this December, considering that and the crypto market, in general, have been tanking heavily during the last period.
Currently, is trading right on the $4,000 level, with a 2.44% loss over the last 24 hours and a 3.44% gain for the last 7 days but it must be noted that it failed twice to break resistance and the are curving downwards once again. The has started to move lower as well, and all this points to another possible drop that may have 3500 as a target.
The picture remains relatively blurry and at the time there is no clear indication whether the current price action is part of a simple correction in a downtrend or if we are dealing with a possible end to this .
Support zone: 4000 area
Resistance zone: 4200 – 4400
Most likely scenario: downtrend resumption if price stays below 4200
Alternate scenario: break of and move into 4600
Published at Mon, 03 Dec 2018 14:21:42 +0000
