Bitcoin

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The start of the weekend has turned out to be bullish for the <a href="https://u.today/bitcoin-btc-price-analysis-for-december-8" rel="noopener noreferrer nofollow">cryptocurrency market</a>. <img data-entity-type="file" data-entity-uuid="951da276-3ff9-4bc1-a19d-128055590fd3" src="https://u.today/sites/default/files/inline-images/top10_820.png">Top coins by <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
<h2 class="text-align-justify" id="btc-usd">BTC/USD</h2>
The rate of Bitcoin (BTC) has increased by 0.63% over the last 24 hours. <img data-entity-type="file" data-entity-uuid="3ec505f0-fdda-4507-9917-c4fc0b204861" src="https://u.today/sites/default/files/inline-images/btc1_158.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of BTC is in the middle of the local channel between the support at $43,749 and the resistance at $44,389.
As most of the daily ATR has been passed, ongoing sideways trading in the area around $44,000 is the more likely scenario until the end of the day. <img data-entity-type="file" data-entity-uuid="78ad0c82-2503-4bc9-9956-6532ca228f20" src="https://u.today/sites/default/files/inline-images/btc2_141.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, the rate has made a false breakout of the resistance at $44,528. If the bar closes far from this mark, there is a chance to see a further drop to the $42,500-$43,000 zone soon. <img data-entity-type="file" data-entity-uuid="970e7b12-ed1c-4007-9b34-cff9d86fd229" src="https://u.today/sites/default/files/inline-images/btc4_5.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the weekly chart, the price of BTC keeps setting new local peaks. At the moment, one should focus on the nearest vital zone of $45,000. If the bar closes above it with no long wicks, the upward move may continue to $48,200.
Bitcoin is trading at $43,867 at press time.

Bitcoin (BTC) Price Analysis for December 9

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