$BTC OBSERVATION THROUGH TECHNICAL ANALYSIS FRAME 1D EXTREMELY IMPORTANT!

Analyzing data and the overall on-chain shows

1. In the same timeframe as the past in March, we see that the daily RSI of the BTC chart has a negative divergence (lower highs), but the price keeps rising, indicating that buying pressure is gradually weakening, while market makers and individuals are accumulating by increasing the DOM, and Altcoins are bleeding.

2. The short-term scenario observes a high probability of a correction on the daily frame above 70% in the near future (possibly before the interest rate announcement on December 19, 2024) according to Vietnam time.

The nearest support levels if this scenario occurs.

Zone 1: 100K (6K price)

Zone 2: 96K5 (10K5 price)

Zone 3 deepest: 90K (16K price).

3. According to the liquidation chart of LONG positions, the levels with stop-loss in the above zones on the weekly frame are entirely valid to occur. There could also be a quick sweep taking the range like the previous day, dropping over 14K from 104K to 90K overnight.

4. If this scenario truly occurs, Altcoin will be divided down to the nearest bottom. The Fibo retracement to the 0.5 zone from the nearest peak will be the support zone for altcoins.

Currently, the above analysis is just for reference; investors need to research and take responsibility for their investment plans!

Last updated: 17/12/24.

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