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During the day, the cryptocurrency fell by 2%, and its capitalization decreased to $ 874 billion
The price of bitcoin on the Binance crypto exchange on the night of December 4 dropped below $ 46 thousand.As of 9:50 Moscow time, the cryptocurrency is trading at $ 46.3 thousand, and its capitalization is $ 874 billion, according to CoinGecko. During the day, the asset fell by almost 2%. The fall for the month was about 6%.
In mid-December, trader Ton Weiss warned that the bitcoin rate could collapse to $ 20,000 as part of the current correction. According to Weiss, this will happen if the asset breaks through the 50-week moving average (MA) in the region of $ 47 thousand and consolidates below.
Later, the analyst explained in which case Bitcoin will rise in price to $ 100 thousand. The asset needs to overcome an important resistance at the level of $ 69 thousand in order to move to impulsive growth, Weiss noted. He claims that there is an ascending triangle pattern on the Bitcoin chart at the moment.
An ascending triangle pattern is considered a bullish signal in trading as it indicates rising lows in price and an important resistance level that an asset needs to break to get out of the triangle.
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