The BTC rate has shown a decline since yesterday, currently setting a low of $103,137.
Those who use P73 Trend & Target Dynamics - overnight and this morning received signals for #BTC transitioning into a stable downtrend on the hourly and 2-hour timeframes. Moreover, on the hourly timeframe, all three basic targets for decline have already been hit ($105,064, $104,207, $103,351).
On the 2-hour timeframe, there are two basic targets - $103,010 and $101,895. However, the price there is already showing a potential low after testing the trend support - rising since December 13. The previous similar test on December 14-15 marked the beginning of an upward movement with a test of a new ATH.
On the chart with significant levels, trend lines, and EMA, the price yesterday, after several unsuccessful attempts to break the trend resistance since December 5, broke the local significant levels of $105,963 and $104,697. During this decline, the EMA 50 of the four-hour timeframe was not even retested, nor was the more significant volume and mirror level of $102,757. They are now combined into one support pool.
The price on the four-hour timeframe has already shown a bullish candle, but the structure remains bearish and there is currently no recovery above the significant level of $104,697 - in the next 12 hours, a test of the specified support pool can be expected.
In summary - for #BTC, the upward movement remains a priority for us. As long as the price doesn't close below $102,757 on the four-hour candle, it's certain.
Let us remind you that on the four-hour timeframe, the price remains in a stable uptrend. Its maintenance is an important condition for continuing growth towards $110,000 and above.
Two points that we consider important to remind:
1. Today the US Federal Reserve's decision on the interest rate.
2. For the BTC price volatility index, we expect a reversal upwards from today until December 20. Impulsive movements.
