Bitcoin Price Analysis (Jan 1st, 2020)

At present, the Bitcoin prices fluctuate around $7100. The pressure from short selling is still strong. We believe that the price will fall down in the short-term and get back to the previous price height.

Based on the 4 hours chart, the BOLL is around $6950. The support from above $7000 is weak. We predict that the short-term bitcoin price will fall to $6950–6900. If the price will fall back to $6800-$6850, it is good point to set long position confidently.

Operation advice

Long target：$7250, $7400, $7600

Short target: $6800, $6850, $6950

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