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$BTC
Bitcoin BTC$92,923 is struggling to rebound after falling roughly 9% last week. This suggests that the bulls are playing it safe and are not hurrying to buy the dips. One exception is MicroStrategy, which added 5,262 Bitcoin between Dec. 16 and Dec. 22 at an average price of about $106,662.
Although Bitcoin has given up ground from its all-time high of $108,353, a minor positive is that the bears have not been able to pull the price below the solid support at $90,000. This suggests that the bulls are not rushing to exit their long positions.
However, some analysts believe that a correction may be around the corner. Popular trader and analyst Rekt Capital said in a post on X that Bitcoin has broken below the weekly support, increasing the likelihood of entering “into a multi-week correction.”
Buying at lower levels and selling on rallies indicates a possible range-bound action in the near term. Will altcoins also enter a period of consolidation? Let’s analyze the charts to find out.
Bitcoin BTC$92,923 is struggling to rebound after falling roughly 9% last week. This suggests that the bulls are playing it safe and are not hurrying to buy the dips. One exception is MicroStrategy, which added 5,262 Bitcoin between Dec. 16 and Dec. 22 at an average price of about $106,662.
Although Bitcoin has given up ground from its all-time high of $108,353, a minor positive is that the bears have not been able to pull the price below the solid support at $90,000. This suggests that the bulls are not rushing to exit their long positions.
However, some analysts believe that a correction may be around the corner. Popular trader and analyst Rekt Capital said in a post on X that Bitcoin has broken below the weekly support, increasing the likelihood of entering “into a multi-week correction.”
Buying at lower levels and selling on rallies indicates a possible range-bound action in the near term. Will altcoins also enter a period of consolidation? Let’s analyze the charts to find out.
#ChristmasMarketAnalysis
Bitcoin BTC$93,025 is struggling to rebound after falling roughly 9% last week. This suggests that the bulls are playing it safe and are not hurrying to buy the dips. One exception is MicroStrategy, which added 5,262 Bitcoin between Dec. 16 and Dec. 22 at an average price of about $106,662.
Although Bitcoin has given up ground from its all-time high of $108,353, a minor positive is that the bears have not been able to pull the price below the solid support at $90,000. This suggests that the bulls are not rushing to exit their long positions.
However, some analysts believe that a correction may be around the corner. Popular trader and analyst Rekt Capital said in a post on X that Bitcoin has broken below the weekly support, increasing the likelihood of entering “into a multi-week correction
Buying at lower levels and selling on rallies indicates a possible range-bound action in the near term. Will altcoins also enter a period of consolidation? Let’s analyze the charts to find out.
#BTC
Bitcoin BTC$93,025 is struggling to rebound after falling roughly 9% last week. This suggests that the bulls are playing it safe and are not hurrying to buy the dips. One exception is MicroStrategy, which added 5,262 Bitcoin between Dec. 16 and Dec. 22 at an average price of about $106,662.
Although Bitcoin has given up ground from its all-time high of $108,353, a minor positive is that the bears have not been able to pull the price below the solid support at $90,000. This suggests that the bulls are not rushing to exit their long positions.
However, some analysts believe that a correction may be around the corner. Popular trader and analyst Rekt Capital said in a post on X that Bitcoin has broken below the weekly support, increasing the likelihood of entering “into a multi-week correction
Buying at lower levels and selling on rallies indicates a possible range-bound action in the near term. Will altcoins also enter a period of consolidation? Let’s analyze the charts to find out.
#BTC
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