Bitcoin (BTC) Price Prediction for December 12

The rates of most of the coins are rising again, according to CoinStats.

BTC/USD

The price of Bitcoin (BTC) has gone up by 1.41% over the last 24 hours.

On the hourly chart, the rate of BTC is going down after a false breakout of the local resistance of $92,735. If the daily candle closes below that mark, the correction may lead to a test of the $90,500 zone by tomorrow.

On the longer time frame, the price of the main crypto is declining after a failed attempt to fix above the $94,172 resistance. 

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If the situation does not change by the end of the day, there is a high possibility of seeing an ongoing drop to the support of $88,156 soon.

From the midterm point of view, traders should pay attention to the bar’s closure in terms of the $94,172 resistance. If the bar closes far from that mark, traders may see a test of the interim zone of $85,000 next week.

Bitcoin is trading at $90,667 at press time.