Bitcoin is facing a challenging holiday season as it struggles to maintain support in the mid-$90,000 range after a bearish weekly close. Analysts are cautious, noting a "bearish engulfing" pattern that could signal a multi-week correction. Some predict a potential drop to $80,000, aligning with typical bull market pullbacks. Despite the gloomy sentiment, historical data suggests a possible relief bounce around December 26. Meanwhile, the Smart DCA tool indicates a favorable buying opportunity for long-term investors. Market sentiment remains mixed, with fear and greed indicators showing contrasting signals.
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