UTC-05:00,Monday , December 09th 2019

CoinNess Analysis: BTC May Rise From $7255

00:27 Tuesday , December 03rd 2019
Citing the Bitcoin (BTC) analysis of Jins, the in-house cryptocurrency analyst at CoinNess.com, BTC has a strong trend at key change points. After the selling pressure was significantly reduced yesterday (Dec 2), a typical bottom adjustment may occur in the near future.
During the narrowing of BTC's decline, the short-term price bottom is being confirmed. Important support points and the key trading volume indicate that the recent bottom fluctuation has been around $7,255. The pattern of BTC's rebound at closing last week and BTC's expanding trading volume also interpret $7,255 may be the starting point for a new round of BTC rising.
The major cryptocurrencies have performed strongly in the short-term, and platform cryptocurrencies have shown a rebound signal, which is related to the recent active trading. Since the second half of 2019, most cryptocurrencies have been fully adjusted. And ETH and EOS are positively affected by good news, such as the Istanbul upgrade on Dec 7 and BM's saying of coding up a proposal of EOSIO resource distribution on Nov 28. Since some factors of price stabilization appeared, the market may have some subtle changes that deserve investors' attention.