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Bitcoin (BTC) Price Analysis for December 4
Source: CryptoNewsNet Original Title: Bitcoin (BTC) Price Analysis for December 4 Original Link: The rates of most of the coins are going up.
BTC/USD
The price of Bitcoin (BTC) has increased by 0.55% since yesterday.
On the hourly chart, the rate of BTC has set local support at $91,827. However, if a bounce back does not happen, one can expect a level breakout, followed by a further correction to the $91,000 range.
On the longer time frame, the price of the main crypto has once again bounced off the resistance of $93,753. If the daily candle closes far from that mark, traders may expect a correction to the $90,000-$91,000 range.
This scenario is relevant until the end of the week.
From the midterm point of view, the rate of BTC is far from the main levels. Thus, the volume has dropped, which means ongoing sideways trading around current prices is the most likely scenario.
Bitcoin is trading at $92,524 at press time.