Bitcoin (BTC) Price Analysis for December 8
Most of the coins keep setting new local peaks, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has increased by 0.63% since yesterday.
On the hourly chart, the price of BTC is looking bullish as the rate is near the local resistance level of $44,039. If the daily bar closes near it, there is a high chance to see a breakout to the $45,000 zone over the weekend.
If today’s candle closes above $44,000, the rate of BTC can maintain in the $44,500-$45,000 zone soon.
On the weekly time frame, one should focus on the current bar closure. If it happens with no long wick, the energy might be enough for a continued rise to the $46,00-$48,000 zone.
Bitcoin is trading at $43,974 at press time.
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