Price analysis of Bitcoin (BTC), IOTA (MIOTA) and Ethereum (ETH) – 8 December



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Bitcoin, IOTA, Ethereum

Bitcoin (BTC)

It's another red day for crypts. In the last 24 hours, Bitcoin (BTC) rose from a maximum of $ 3729 to a minimum of $ 3368. In the last 12 hours, it has been consolidating around $ 3429. However, as this consolidation is taking place below a big bearish candle, could an indicator of short sales that take profits before a continuation of the downtrend. This makes the $ 3429 to $ 3368 a good area to go short on Bitcoin (BTC). This position would have a good exit point at $ 3123. This is a 200-day weekly MA and a possible exit point from a short-term short position. In the scenario where Bitcoin falls below this level, then it will have a long-term market structure and could reach a minimum of $ 2000.

However, in the scenario where Bitcoin (BTC) gains upward momentum and pushes above the 48-hour high of $ 3926, it would be an indicator that the bulls are recovering a bit. This could see Bitcoin (BTC) likely go up to $ 4200. This is a maximum of 5 days and a possible reversal point from a short term purchase position. A break above this could see Bitcoin possibly testing $ 4700. This is a key resistance level on the 55-day MA of the day's chart.

IOTA (MIOTA)

The IOTA, like the rest of the market, has declined in the last 24 hours. During this time, it rose from a maximum of $ 0.252 to a minimum of $ 0.205. In the last 10 hours, it has consolidated to $ 0.217, although it seems to be falling. This is an indicator of the fact that slight consolidation is probably the case for bears taking profits and consolidating their positions. This makes $ 0.221 to $ 0.204 a good entry range for a short position. This position would have a good exit point at $ 0.131. This is a long-term support for the IOTA (MIOTA) on the weekly chart. This could also be long-term support and a possible long-term inversion point for IOTA (MIOTA).

However, if during the day, IOTA (MIOTA) exceeds the maximum of 48 days of $ 0.264, it would be an indicator that the bulls are back, at least in the short term. This would be a trigger to go long with a goal of $ 0.294. It's a high week and a possible exit point from a short-term short-term position.

Ethereum (ETH)

Ethereum (ETH) has suffered a hard disadvantage in the last 48 hours. In this period, it rose from a maximum of $ 105.65 to a minimum of $ 83.02. In the last 12 hours, he made a slight retreat at $ 89.25, but failed to maintain. This is an indicator that Ethereum (ETH) could be directed lower. To go short on Ethereum (ETH), it would be better to wait for a break below the daily minimum of $ 82.81. This is an indicator to shorten with a goal of $ 46,45. This is a key support level for Ethereum (ETH) on the weekly chart and a possible exit point from a short position.

However, if Ethereum (ETH) gains bullish momentum and pushes beyond the $ 100 limit, it could test $ 103.34 on the 100-day MA. On the other hand, if it pushes above this level, it could rise to $ 110.18 on the 200-day MA, which could be a possible short-term resistance point.

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