{"id":406096,"date":"2019-12-03T17:00:20","date_gmt":"2019-12-03T17:00:20","guid":{"rendered":"https:\/\/ktsl888.com\/?p=406096"},"modified":"2019-12-03T15:50:39","modified_gmt":"2019-12-03T15:50:39","slug":"bah-humbug-if-bitcoin-bulls-cant-reclaim-7800-its-coal-for-christmas","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bah-humbug-if-bitcoin-bulls-cant-reclaim-7800-its-coal-for-christmas\/","title":{"rendered":"Bah Humbug! If Bitcoin Bulls Can\u2019t Reclaim $7,800 It\u2019s Coal For Christmas"},"content":{"rendered":"
All bulls want for Christmas this holiday season is to push Bitcoin price<\/a> higher and prevent a further downtrend back into a full-blown bear market.<\/span><\/p>\n But unless Bitcoin price can reclaim key support at $7,400, bullish crypto investors are going to have a bad Christmas, according to one crypto analyst.<\/span><\/p>\n At the close of October, Bitcoin price<\/a> was trading above well above $9,000 following a news-driven short-squeeze that caused the first-ever cryptocurrency to set its third-largest single-day gain in its history, pushing the price of the asset from support at $7,400 to as high as $10,500.<\/span><\/p>\n Related Reading | Bitcoin Price Attempts to Reclaim \u2018Mega Bull Run\u2019 Moving Average\u00a0<\/a><\/strong><\/em><\/p>\n But before November could close, the leading crypto asset by market cap had fallen nearly a third in price, to $6,500 at its recent local low. Now, with December in full swing and the holidays around the corner, bulls are left wondering if they\u2019ll get the thing they\u2019ve wished most for this year: bullish Bitcoin.<\/span><\/p>\n According to one crypto analyst, $7,400 \u2013 the level that triggered the massive impulse rally \u2013 represents a key support level, now acting as resistance, that must be reclaimed by bulls for a chance to get their Christmas wish.<\/span><\/p>\n https:\/\/twitter.com\/teddycleps\/status\/18033154?s=21<\/p>\n Markets are cyclical, and according to legendary trader William Delbert Gann, tops and bottoms typically occur around the months of November, December, January, February, April and July.<\/span><\/p>\n Bitcoin price<\/a> topped out in December 2017, later forming a V-shaped bottom in February 2018. In November 2018, Bitcoin broke down below $6,000, eventually bottoming in December 2018 at $3,10<\/a>0.<\/span><\/p>\n In 2019, Bitcoin broke out in April to later top out in July. The crypto asset experienced another massive drop in November of this year, and could once again be looking to find a bottom this current month of December.<\/span><\/p>\nBitcoin Price Must Reclaim $7,400 Support Or Risk The Naughty List<\/h2>\n
The Ghost of Crypto Christmas: Past, Present, and Future<\/h2>\n