Five Go Long; Four Go Short

Five Go Long; Four Go Short

The price of Bitcoin dipped to a 24-hour low of 7,171 USDT at around 16:03 UTC on Dec 11. Out of the 52 accredited crypto analysts with CoinNess, eight think that for the next 24 hours (12:00 UTC, Dec 11 to 12:00 UTC, Dec 12), the price of BTC will rise, 14 think it will drop, and 30 think it will continue to trade sideways.
CoinNess selects opinions from four popular crypto analysts for your market analysis:
Bull:
@Light Tower: After four hours of continuous bottoming, signs show resistance line at $7,160. Pay close attention between $7,350 and $7,400. If the price rebounds to the range where the bulls fail to break the line of pressure, it would be good to go short under the $7,440 level.
@Chuangye: I see you guys at $8,200. Although USDT doesn’t mean the market favours the bulls, don’t forget about the recent USDT contracts.
Bear:
@Niumowang: Bitcoin is in a stage of trending to the bottom. The trading volume gradually decreases with little dynamic taking the price to the bottom. When the price fell on December 10, shorts composed strong momentum to sell. Therefore, the market is still trending to a bottom in the short term.
@lightcoin: If Bitcoin breached under $7,200, try to focus the $7,050 as the supporting line. The market momentum obviously moves with little volatility. In my opinion, it seems that bears are currently dominating the market. A possible strategy that the whale accounts could adopt is to sell and force the market momentum goes short. This step can liquidate the bull orders on the edge, and buy in the amount of short orders at a rather low level. This move could lift up the bulls’ confidence.

USDT +0.09%

BTC -0.76%

Published at Wed, 11 Dec 2019 17:29:07 +0000

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