Bitcoin (BTC) Price Prediction for December 31
The market is neither bearish nor bullish at the very end of the year, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 2.2% over the last 24 hours.
On the hourly chart, the price of BTC is breaking the local resistance of $94,532. If the daily bar closes far from it, there is a chance to see a test of the $97,000 area by Jan. 1.
On the bigger time frame, the rate of BTC has once again bounced off the support of $91,760. If the candle closes near $96,000, traders may expect ongoing growth to the $98,000 range soon.
From the midterm point of view, the picture is less positive.
The volume keeps falling, which means none of the sides has seized the initiative, and there are low chances of seeing any sharp moves shortly.
Bitcoin is trading at $95,422 at press time.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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