🚨BITCOIN AT 40,000 DOLLARS, CRYPTOCURRENCIES ARE BOILING
✅In this new crypto point of the weekend, it is time to stop at the cryptocurrency market which is on the rise, with bitcoin at $40,000, as well as ethereum which is at the gates of $2,200 . In the same way as our previous crypto points, we will have the opportunity to review the developments that the market has experienced in recent days, the levels to monitor as well as the bias to have for this month of December. Without further ado, let's go to TradingView!
🚨THE CRYPTOCURRENCY MARKET VALIDATES OUR TECHNICAL OBJECTIVE
✅While the market was in a period of lateralization that we had materialized in our previous analysis by identifying an H4 range, the exit from this figure took place to the upside with a break of $1,390 billion. This allowed the price to move in the direction of the 1.618 Fibonacci to $1.45 trillion. Corresponding to the extension of the previous bearish movement, this level could act as resistance during the coming days.
✅As you have surely understood, for the market to be able to preserve its upward momentum in order to reach $1,640 billion, the $1,450 billion will have to be broken upwards with a daily close that is higher. The price reaction at the end of the weekend will be quite important and will guide us on the dynamics that the market could show during the coming days. A rejection at this level could lead the cryptocurrency market to take a bearish direction.
✅As price action currently stands, the bias to be had will be bullish as long as the market remains above $1.39 trillion. As for altcoins, is the situation the same as for total market capitalization? This is what we will see without further delay.
