This year is going to end in just a couple of days and as 2020 approaches, Bitcoin (BTC) price is trying to break just under the 10,000 USD mark. Since the end of June 2019, Bitcoin has been struggling to break out of the bearish trend. Despite that, recently Bitcoin price has been having a successful run.

According to the daily charts, crypto traders should expect the first cryptocurrency to be more volatile than usual in the upcoming days. Bitcoin is currently in a range from where it could follow either a bullish or a bearish trend and it is not so clear where BTC is going. Some traders believe that if the price of Bitcoin falls in the current range, it is going to have a strong bounce back.

Looking at the current value of Bitcoin, it is extremely likely that BTC price will soon bounce over 7,400 USD that is presently the resistance that the coin has been facing throughout the past week. On the other hand, when we examine the last 6 hours, there are also signs of a short-term bullish movement. Reversal of this short downtrend might be right in front of us, according to Scott Melker, a crypto news outlet contributor. Moving averages have also shifted upwards during the last couple of hours.

However, even though Bitcoin is pushing upwards and might close the year on a positive note, it still need to push through some resistance levels to reach a good price. So the next bull market might be approaching sooner than we thought.

 

As Bitcoin halving is right around the corner, the interest around the first crypto asset’s price keeps growing. In order to find out more information & details on the largest crypto coin, Bitcoin and its price, have a look at Bitcoin Price updates as well as Bitcoin (BTC) Price Predictions.