Bitcoin Is About to Move: Is 96,600 USD the Key?

The price of Bitcoin has not recorded any growth over the past week, as the leading cryptocurrency is still in the process of market adjustment. Despite several price increases, Bitcoin is still struggling to break through the resistance level of 100,000 USD, causing the price movement in December to fall short of earlier optimistic predictions. Market analysts are making predictions about the potential price volatility of Bitcoin. According to Elliott Wave theory, Bitcoin is currently in the correction phase, and two contrasting scenarios are presented: the white scenario suggests that Bitcoin has completed wave B and could drop to the 80,000 USD range, while the gold scenario suggests that wave B is still developing. At the time of writing, Bitcoin is trading at 94,790 USD, down 1.04% in the past 24 hours, with a daily trading volume of 52.24 billion USD. Breaking the 96,600 USD level is the immediate target for investors, but 100,000 USD remains a strong resistance level.