Today is Friday, 3rd December, and this is Cointribune’s Crypto analytics. You will learn about what’s been going on in the market, as well as what to expect next in our new article! Make sure to have a look at the previous instalment. Off we go!
Another day, another try to tackle the $60,000 resistance. Bulls did fail though; a BTC dump is closer than it appears at the first glance. The cryptocurrency has been moving along the top boundary of the broadening trading chanell.
However, the asset hasn’t been too volatile recently. This is a sign that bears have stopped trying to bring down its price. It’s hard to say exactly why that’s happening – either traders have stopped selling their holdings or they are waiting to see that the market won’t see growth in the near future.
I personally expect a dump. However, that’s just my opinion. A decline in volatility is always a sign of dramatic changes. At the moment a dump is as likely as a rapid growth.
In case the price does drop, the $50,000 will uphold the cryptocurrency.
ETH still maintains its relatively flat sideways movement, ranging between $4,400 and $4,500. There is a good chance that the cryptocurrency will attempt to take over the $5,000 resistance. It all depends on Bitcoin’s next move.
Don’t neglect risk management and don’t forget about stop losses!
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
|BITCOIN (BTCUSD) ₿||$29,355.94||-0.22%|
|ETHEREUM (ETHUSD) Ξ||$1,972.35||-0.05%|
|IMM. US (REIT)||$2,463.96||0.79%|
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