Here’s why analysts expect ‘choppy’ Bitcoin price action between $42K and $53K

Here’s why analysts expect ‘choppy’ Bitcoin price action between $42K and $53K
© Reuters.

The wider cryptocurrency ecosystem is in a heightened state of fear on Dec. 6 after the Dec. 3 market sell-off continues to send ripples across the the sector and Bitcoin (BTC) price remains pinned below $50,000.

Data from Cointelegraph Markets Pro and TradingView shows that bulls are managing to hold BTC price above $49,000 but the general outlook suggests that additional days of consolidation are in store.

BTC/USDT 4-hour chart. Source: TradingView
BTC/USD 1-week chart. Source: Twitter (NYSE:TWTR)
BTC/USD 1-day chart. Source: Twitter

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