🔔 Beware of Bitcoin's 'Shooting Star' Warning at Record Highs: Godbole

Bitcoin's recent price action has raised caution among traders, as it formed a "shooting star" candlestick pattern in December, indicating potential bearishness. After reaching a record high above $108,000, Bitcoin ended the month below $94,000, marking its first monthly loss since August. The shooting star pattern suggests that while buyers initially pushed prices higher, sellers took control, hinting at a possible reversal.

Analysts emphasize the importance of defending the December low of $91,186 to maintain bullish sentiment. This warning aligns with broader macroeconomic conditions, including hawkish signals from the Federal Reserve and a strengthening dollar. Despite short-term challenges, some traders remain optimistic about Bitcoin's trajectory for 2025, anticipating a rebound as the Fed may shift to a more dovish stance later in the quarter.

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