Bitcoin price went through a pre-Christmas rally, with prices vaulting the $7,500 level. BTC also saw a collection of factors that suggest 2020 may start on a bullish note.
Bitcoin Price Avoided Crash to $5,000, For Now
BTC, previously expecting to lag around $6,500 and slide further in early 2020, saw a relief rally late on Sunday, which erased the previous losses. Bitcoin price climbed to a high of $7,518.03, and continued on an upward trajectory on Monday.
Bitcoin now faces a new resistance at $7,800, with the potential to reclaim $8,000, predicts CryptoMichael.
Green zone held for support here, which is the range low.
Currently at potential local resistance. Wouldn’t be surprised with continuation of ranging for the coming days, before we make another push to $7,800-8,000 resistances later next week.
All in all, good. pic.twitter.com/vyumXpruOh
— Crypto Michaël (@CryptoMichNL) December 22, 2019
In the coming days, he sees BTC move within its range of support and resistance. The climb may not be continuous,…