News BTC Bitcoin Analysis December 5
Bitcoin has been relatively volatile over the last couple of sessions, but continues to grind to the upside. We currently find ourselves near the $11,000 level, and it looks as if the 20 SMA is trying to offer support. I believe there is obvious support underneath at the $10,000 level, and therefore there should be quite a bit of buyers in that area. I think that we probably need to pull back a little bit, but that should end up being a buying opportunity.
Bitcoin has pulled back slightly against the Japanese yen early on Monday, but we are still very much in an uptrend, and I believe that the buyers are coming back to take advantage of this pullback. I believe that the ¥1.2 million level is essentially where the buyers will make their stand, and very obviously at the ¥1 million level.
Thanks for watching, I’ll be back tomorrow.