- Bearish Bitcoin price prediction unfolds as BTC sees dip to lows of $18,000
- Volatile fluctuations seen as bullish trend reaches for $20,000
- Support level found at $18,000
- Approximate four percent fluctuation above and below opening price seen throughout the day
Cryptocurrency heatmap by Coin360Bitcoin price prediction: Striving for the $20,000 mark – Bitcoin misses by just $112
Following the highs of the morning, Bitcoin (BTC) price has now settled down to a stable level of $19,000 to conclude the day – almost $700 off its starting price.
As of today, December 1st, 2020, Bitcoin price has been through hell and high water as it struggles to reach the $20,000 mark. Opening at $19.695, BTC began the day already sat at the precipice of the All-Time-High (ATH) of Bitcoin history, but what unfolded didnt live up to expectation.
Reaching as high as $19,888 at 11:10 GMT, prices dipped to $18,001 by 13:10 GMT – closing at $ 18,181. As with the story of Icarus, reaching for the sun, BTC price fell promptly back down to earth – denying traders the long-awaited ATH of $20,000. As it stands at 21:08 GMT, BTC price sits at $18,996.20 – down 1.13 percent.
Use the oscillator below to check what role BTC might play in your portfolio.
Bitcoin price prediction: 1-Day chart
As we can see from the 1-Day chart, the days pattern closely resembles that of the 26th November 2020, where volatility, volume, and bearish activity peaked. Progressing to the 1st of December, 2020, we see volume levels dropping but steadily increasing while volatility heightens even further.
Volatility suggests that bullish activity will continue despite the price decline today. This is evidenced by the bullish characteristics displayed by the crypto market in recent weeks (e.g.,
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