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Bitcoin (BTC) Price Analysis for December 9
Source: CryptoNewsNet Original Title: Bitcoin (BTC) Price Analysis for December 9 Original Link: Most of the coins keep trading in the green zone; however, there are some exceptions to the rule.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 1.16% over the last 24 hours.
On the hourly chart, the price of BTC has broken the local resistance of $90,858. If bulls can hold the gained initiative, the upward move is likely to continue to the $92,000 zone by tomorrow.
On the longer time frame, traders should focus on the nearest level of $93,753. If its breakout happens, the accumulated energy might be enough for a price blast to the $96,000-$100,000 range.
Such a scenario is relevant throughout this week.
From the midterm point of view, none of the sides is dominating, as the rate of BTC is far from key levels. Thus, the volume has dropped, which means ongoing sideways trading around the current prices is the most likely scenario.
Bitcoin is trading at $91,486 at press time.