Since today is December 11, 2024, and Bitcoin’s current analysis shows stability above the $98,000 level with positive momentum in technical indicators, the following scenario could unfold during the remainder of the month:

Expected Scenario:

1. Breaking $100,432.87:

If Bitcoin successfully breaks this critical level with strong momentum and high trading volume, it is likely to head toward $110,000 in the coming days.

This depends on sustained demand and the absence of significant negative news.

2. Reaching $110,000:

Once the $100,000 milestone is breached, we might see an acceleration in buying activity as new investors enter the market, driving the price toward $110,000.

This level may act as a medium-term resistance.

3. Possibility of $115,000 – $120,000:

For Bitcoin to achieve this target before the end of December, it will require strong market support, continuous positive momentum, and minimal corrections.

If $115,000 is exceeded, reaching $120,000 becomes likely, especially if market liquidity remains high.

Factors Supporting the Target:

Positive Economic News: Continued institutional investments in Bitcoin or announcements of broader adoption of cryptocurrencies.

High Trading Volumes: Sustained high daily trading volumes signal new liquidity entering the market.

December’s Historical Behavior: Historically, December has been a bullish month for Bitcoin due to end-of-year moves.

Factors That Could Delay the Rally:

Selling Pressure: Investors may take profits after reaching $100,000.

Expected Correction: With RSI levels elevated, a short-term correction to $94,000 – $96,000 levels may occur.

Negative News: For instance, increased regulatory restrictions or reduced risk appetite among investors.

Final Recommendation:

Trading Strategy:

Place stop-loss orders below the nearest support levels ($96,000).

Closely monitor the break of $100,000 and price stability above it before making long-term decisions.

Risk Management:

Avoid entering the market with your full capital at once.

Follow market movements daily, focusing on technical indicators and trading volume.

If the current momentum persists, Bitcoin has a genuine chance of reaching $120,000 before the end of December 2024.

Sources:

1. CoinMarketCap – For live chart analysis and Bitcoin price updates.

2. TradingView – For tracking technical indicators and chart patterns.

3. CryptoQuant – For analyzing on-chain data and wallet movements.

4. Glassnode – For market sentiment and investor behavior analysis.

5. CoinDesk – For news updates impacting Bitcoin's price movements.

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