As 2024 comes to a close, the crypto market is gearing up for a potentially volatile period. We're expecting some fireworks in the next few days, and we've identified three possible scenarios for Bitcoin (BTC) that could lead to a dip.
Why a Dip?
We believe that Bitcoin might be due for a bit of a cooldown. While we anticipate a new All-Time High (ATH) eventually, we haven't seen it materialize yet. This suggests that the market might be looking for some consolidation before the next big move.
Three Scenarios for a Dip
We've outlined three potential scenarios that could lead to a dip in Bitcoin's price:
Scenario 1:
* Entry: Look for a rejection at the local resistance around $100,000.
* Potential Dip: A rejection here could signal a short-term bearish trend.
Scenario 2:
* Entry: Watch for a break below the recent support level.
* Potential Dip: A break below this support could trigger a sell-off.
Scenario 3:
* Entry: Pay attention to the overall market sentiment.
* Potential Dip: If fear and uncertainty start to creep into the market, Bitcoin could see a dip.
Important Note:
Remember, these are just potential scenarios. The market can be unpredictable, and things can change quickly. Always do your own research and consider your risk tolerance before making any trading decisions.
What are your thoughts on these scenarios? Do you think Bitcoin is due for a dip? Share your predictions in the comments below!
Disclaimer: This is for informational purposes only and does not constitute financial advice.
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