BTC appears to be in a continued downtrend to fill the gaps at $3740, a continued move as a result of momentum wold see $3703 re-tested with a possible wick down to 36XX.
What do the charts say?
Bullish
Surprise momentum from New York Trading hours and Asian trading hours could see a wick above the 15MA above $3850, before a continued downtrend.
Bearish
On the higher time frames, the RSI Stochastic has crossed-over illustrating that a downtrend is more than likely, with a continued dump lower to $3703 possible. Accumulation during the month of december has continued, with it possible that all retail traders already deciding that they are in a trade and unlikely to trade the BTC pairs whilst it is in a continued downtrend. volume gap at 374X will likely be filled, as a result of this and continued momentum it is more than likely we will see a retest of $3606, before a bounce up. The latest positive move up following London trading hours and Asian trading hours close illustrates that there was a reversal at $3826, indicating we will not go above that unless there is enough positive momentum. Judging based on the 15MA acting as a temporary resistance, with BTC each time testing it before falling, it is likely that it will not be tested today. Nouvive Says: BTC is currently in a continued down-trend more than likely to see a bounce at 36XX - most likely $3649 or $3672.
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