Market Analysis: Potential Doji Formation on Monthly BTC Candle
Analyzing the current BTC monthly candle, it seems to be shaping up like a Doji pattern. However, there is a noticeable difference: the lower wick is smaller compared to the upper wick, indicating potential market correction in the coming week.
Key Predictions:
1. Correction Zone: BTC may drop to $89K - $87K before recovering.
2. Weekly Close Projection: The market could close between $95K - $97K, completing a proper Doji on the monthly timeframe.
3. January 2025 Weekly Candle: A structure similar to the current daily pattern might emerge, attracting weekly investors ahead of the January investors’ conference.
4. Further Downtrend in January: BTC could face a significant dump, reaching levels around $80K.
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#BTC #Bitcoin #CryptoAnalysis #DojiCandle #MarketCorrection #CryptoInvestors #BTCPricePrediction #CryptoTrading #BitcoinUpdate #Binance
