Bitcoin forecast and analysis for December 19, 2017
By the end of the day trading Bitcoin price went to $18 894. The cryptocurrency is now above the upper limit of the Ichimoku Kinko Hyo Cloud, indicating an upward trend in BTC/USD.
The test area of Ichimoku Kinko Hyo signal lines is expected near the level of $18 400. Since that moment it’s expected that Bitcoin price to rebound and attempt to continue growth with the aim near $21 800.
Earlier, there was a strong signal for purchase due to the intersection of signal lines of the indicator at the level of $15 200.
The abolition of the Bitcoin growth scenario will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the aim below $15 800. It will indicate the end of the current upward trend in favor of the “bearish” trend. It’s expected that bitcoin price may accelerate its growth in case of the breakdown the level $19 700.
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STEEM Price : 2.062 $
Bitcoin hesitated on Monday, after facing the $ 20,000 mark a day earlier, and retreated at the same time as the long-awaited launch of the CME Bitcoin futures.
On Bitfinex exchange based in the United States, Bitcoin drops 8.13% to $ 17,717.00 at 9:52 AM ET (14: 52GMT).
The digital currency, which is trading 24 hours a day, 7 days a week, has fallen from a record high of $ 19,891.00 the day before.
The cryptocurrency fury was conducted this year by Bitcoin, the largest digital currency with a market capitalization of $ 303.58 billion, with cumulative gains of more than 1,800% since the beginning of the year.
The Chicago Mercantile Exchange (CME) launched its own future on Bitcoin Sunday after the launch of futures on CBOE a week earlier.
The launch of futures has met with a mixed response from investors as it offers market participants the opportunity to place bearish bets on bitcoin, which could put pressure on the price of digital currency.
Other market participants, however, believe that the launch of futures paves the way for the creation of an established asset class, which would stimulate institutional demand.
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