Bitcoin Price Analysis 16th December

Bitcoin Price Analysis 16th December

BTC/USD

The bulls are battling to keep Bitcoin (BTC) over the $7,085.80 support. This is a bearish sign as it shows an absence of purchasers at current levels. Both moving midpoints are inclining down and the RSI is in the negative zone, which recommends that bears have the high ground.
On the off chance that the bears sink the cost beneath $7,000, the probability of a decrease to the basic help at $6,512.01 increments. A break underneath this help will be a colossal negative as it will continue the downtrend.
Be that as it may, if the bulls protect the help at $6,512.01, the BTC/USD pair may remain extend bound between $6,512.01 to $7,856.76 for a couple of more days. A break above $7,856.76 will be the primary sign that request is getting.
We envision another upswing to begin a break over the downtrend line of the wedge. Along these lines, merchants can start long positions as recommended in our prior examination.