Bitcoin (BTC) Price Prediction for December 6

Sellers have seized the initiative today, according to CoinStats.

BTC/USD

The rate of Bitcoin (BTC) has declined by 4.58% since yesterday.

On the hourly chart, the price of the main crypto is closer to the local resistance level than to the support. If the rate gets back to $99,000, one can expect a test of the psychological mark of $100,000 shortly.

On the daily time frame, the picture remains bullish as the price is near the level of $99,800. If its breakout happens, there is a high chance to see BTC again at $100,000 and above.

From the mid-term point of view, one should wait until the weekly bar closes. If it happens near $99,800, bulls have chances for an ongoing growth.

However, if the false breakout happens, traders may witness a correction move to the $92,000 area.

Bitcoin is trading at $98,038 at press time.

Source