Bitcoin Technical Analysis: Will Support Hold?

Bitcoin Technical Analysis: Will Support Hold?
December 03 18:27 2018

Bitcoin had been consolidating within a larger wedge since November 20th. Today it broke down and out of that wedge. It found support right on top of the prior support zone between $3,800 and $3,600. If price breaks below this zone, we could see a quick drop to at least $3,400.

Screen Shot 2018-12-03 at 12.54.09 PM.png

This latest drop could be a bear trap. Shorts are outpacing longs by about 30%. If this gap gets much wider, we could see a massive short squeeze.

Screen Shot 2018-12-03 at 12.54.44 PM.png
Screen Shot 2018-12-03 at 12.55.04 PM.png

In today’s video analysis I discuss, where price may go from here, key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM ( or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!


If you found this post informative, please:


Open an Account on Binance here:

Support the Crypto Ecosystem with Brave Browser:

Twitter handle is @Workin2005 and Facebook is

view more articles

About Article Author


From retired airline pilot to full time crypto trader. Trading cryptocurrency provided the means to walk away from a demanding career to enjoy time focusing on what's important in life - family and friends. Helping others navigate the volatile crypto market is an amazing bonus.

View More Articles
write a comment


No Comments Yet!

You can be the one to start a conversation.

Add a Comment