Bitcoin Price Analysis, Ethereum, Ripple on 04.12.2020

Yesterday, a weak attempt by buyers to return the Bitcoin price above the 100% Fibonacci level ended in a rollbackToday, market participants expect repeat attempts of bulls to update the historical maximum of the cryptocurrency flagship.

BTC / USD

Yesterday, in the first half of the day, buyers received support from the hourly EMA55 and tried to use another chance to break through the resistance level of 100% fib (19666.00 USD). 

During the day, the BTC price increase was not supportedlarge volumes. The activity of buyers did not exceed the average level, and the daily maximum was only set in the area of ​​19620.00 USD, and it was not possible to test the 100% Fibonacci level. 

At the end of the day, sellers easily pushed the price tolevel 19200.00 USD. This morning there is no strong pressure from the bears yet and the pair has suspended its pullback in the area of ​​the hourly moving average EMA55. 

If, like yesterday morning, the bulls’ attempts to continue the race resume from the level of average prices, then we can count on a breakout above the historical maximum zone. 

If the bears increase their pressure and push through the moving average EMA55, then a fairly deep rollback is possible, which, according to our calculations, will reach the POC line (17731.73 USD). 

ETH / USD

Yesterday, buyers were unable to overcome the resistance at 620.00 USD and as of this morning the price of Ethereum returned to the area of ​​average prices. 

Support is barely visible on the hourly time framefrom the moving average level EMA55. If buyers take advantage of this chance, the growth will continue to a new annual high around 640.00 USD. 

XRP / USD

Yesterday, the bulls were unable to increase purchase volumes and the price of Ripple spent the entire day in consolidation, in a narrow sideways corridor above the POC line (0.619 USD). 

This morning sellers pushed the pair below the levelaverage prices, but we hope that the weak onslaught of bears will be stopped by the support of 0.600 USD, and the price will begin to recover to the 0.700 USD mark. 

* All price values ​​are based on data from the BitStamp exchange

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