🚨 Bitcoin Analysis Update 🚨
Last night, I mentioned sharing a detailed Bitcoin analysis based on fundamentals and technicals. Here's the update:
➡️Currently, Bitcoin is trading within a range, consolidating and preparing for its next move upward. Technically, Bitcoin is near a key resistance level. I've also identified the major support level, which remains intact. As long as Bitcoin doesn’t close a daily candle below this support, there’s no need to worry—we are still in a bull market.
Bitcoin has tested the resistance multiple times, weakening it. Once Bitcoin breaks this resistance and closes a daily candle above it, we can expect targets of $110K and $125K.
Fundamental Analysis
From a fundamental perspective, Bitcoin is highly bullish, and the upcoming weeks could be game-changing. Mark these two important dates:
1. December 18 (Fed Interest Rate Decision)
• The Fed is expected to announce a 25 basis points rate cut, which is almost confirmed. This is a very bullish signal for Bitcoin and the crypto market. If this happens, Bitcoin could break its resistance and move higher.
2. January 20 (Donald Trump Oath Ceremony)
• Donald Trump’s oath-taking ceremony is another bullish event for Bitcoin. However, don't expect a sudden pump only on January 20. Bitcoin is likely to gain momentum starting from the interest rate cut announcement on December 18, and this momentum could continue until January 20.
⚠️Note: This could also be a "buy the rumor, sell the news" event, meaning there may be some short-term volatility around January 20. A similar pattern happened during the BTC ETF approval, where Bitcoin pumped before the ETF official approval announcement, after the ETF approved everyone thinks that Bitcoin will only pump here but Bitcoin will take a correction for the short term and then again Started to rise. So this scenario is again repeat on the time of Donald Trump Oath Ceremony.
⚠️Conclusion
Both technical and fundamental indicators suggest Bitcoin is bullish. Keep a close eye on December 18 for the Fed rate cut announcement and January 20 for Donald Trump’s oath ceremony. These events could drive significant movements in Bitcoin.
