Bitcoin price analysis for 6 December 2022

banner-image

 🦂 $SCORP Pre-Sale Is Almost Sold Out: Famous Casino Launches Token with Daily Staking Rewards - 6 Million Raised with 10,000 Participants! 🚀

Bitcoin price analysis for 6 December 2022, Bitcoin, the first largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about Bitcoin price from CoinCodex. On the second day of this week, it seems that buyers take control of the price based on the weekly Heikin Ashi Candlestick. The weekly MACD is still negative but forms a positive histogram. The weekly RSI fluctuates below 50 but is close to the oversold zone. The price is still under the 50 SMMA line.

Bitcoin price analysis for 6 December 2022Bitcoin price analysis on the Daily Chart for 6 December 2022

Bitcoin price analysis for 6 December 2022By diving into the daily timeframe, the price rejected the daily 50 SMMA line ($19147.65) and dropped sharply below the major support zone of $18000. Moreover, the price seems that trying to encounter this area.

The TFLOW V2 Algo has already generated a Short signal.

 🎲 Famous Casino Launches Token with Daily Staking Rewards - $6 Million Raised with 10,000 Participants! Pre-Sale is almost sold out 🚀

The Daily MACD indicator is negative with a positive histogram.

The Daily RSI fluctuates below 50.

The 50 Daily SMMA stands above the price which means that the bears control the price.

 🦂 $SCORP Pre-Sale Is Almost Sold Out: Famous Casino Launches Token with Daily Staking Rewards - 6 Million Raised with 10,000 Participants! 🚀

Bitcoin price analysis for 6 December 2022

In the 5-hour chart, Bitcoin fluctuates on the 50 SMMA line of $16986.33. The Volume Profile indicator determines $16583.00 as a strong trading area that has been surpassed.

The 5-hour MACD is positive with a negative histogram. The 5-hour RSI fluctuates over 50.

Conclusion

The price of Bitcoin forms a bearish momentum in medium-term scale as the technical analysis and the indicators coincide. In a short-term scale, the price forms a neutral movement for the moment.
Read all the latest Crypto Analysis Articles here.

Join the TFLOW Trading Community: https://t.me/tflowglobal

🎲 Famous Casino Launches Token with Daily Staking Rewards - $6 Million Raised with 10,000 Participants! Pre-Sale is almost sold out 🚀

BytePlus, a ByteDance subsidiary has entered into partnership with Sui Network..

Explore three hidden cryptocurrencies under $1 with potential for 1000x returns,..

ads-image ads-image