$BTC

BTC Market Analysis: A Tug of War, Direction Will Soon Be Clear!

Brothers, recently the BTC price has entered a 'stalemate' in the tug of war between bulls and bears. Will it break out and rise or continue to pull back? The following key points will directly determine our operational direction, so let’s take a look!

Current Trend Interpretation

On December 20, BTC rebounded from the 50-day moving average ($92,232), but faced selling pressure at the 20-day moving average ($98,988) on the same day. This indicates that the bulls are trying to push up but are encountering resistance, making the short-term direction unclear.

Consolidation Zone: The current price may fluctuate between the 20-day and 50-day moving averages; whoever breaks through will take the lead.

How to view the breakout direction?

Upward Breakout:

If the price breaks and stabilizes above the 20-day moving average ($98,988), it indicates the end of the adjustment and may retest the historical high of $108,353.

Next Target: After breaking the historical high, the target price is $118,277, or even $127,665.

Downward Breakout:

If the price falls below the 50-day moving average ($92,232), the situation will not be good.

Support Level: The first target is $85,000; if it can't hold, it may drop to $73,700.

Short-term View? (4-hour Chart)

Moving Averages Tilt: The two moving averages on the 4-hour chart are sloping down, and the RSI is in negative territory, with bears in control.

Key Support Level: Falling below $90,998 may trigger a deeper pullback, targeting $85,000.

Breakout Signal: If there is a strong breakout and it stabilizes above $100,000, it may rebound to $105,000, then to $108,353. At that time, the bulls may make a comeback, and the market is expected to restart its upward trend.

This wave of market changes is still significant, so don't rush to take action. Stay calm and wait for signals; once the breakout point appears, it will be our opportunity to make money!