BTC/USD breaks ascending pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The BTC/USD has broken the channel up pattern, which guided the price of the cryptocurrency higher since early July. Afterwards, the price found support in the September high and early October low level zone near 52,950.00. On December 1, the rate had various future scenarios.

In the case of a surge, the price for Bitcoin would face the resistance of the 60,000.00 mark in a combination with the 50-day simple moving average near 60,750.00. Above these levels, the previous all-time-high level zone at 66,950.00/69,200.00 is located at. The high level zone is highly likely going to provide resistance.

Meanwhile, a potential decline of the price would look for support in the 59,950.00 zone, before aiming at the 50,000.00 mark. The 50,000.00 managed to provide resistance in August. Namely, it has shown to be capable of impacting the price's direction. Below the 50,000.00 mark, the 200-day simple moving average near 46,000.00 might act as support.
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