#2024WithBinance Technical analysis of Bitcoin (BTC) for December 8, 2024, shows that the price of the cryptocurrency has stabilized around $100,000 in recent days, with strong support and resistance levels. Here are the key points:
1. Support and resistance levels: BTC continues to consolidate in the range of $95,000–$105,000. A breakout above the upper boundary could lead to a rise to $110,000, while a drop below $95,000 could trigger a pullback to around $85,000.
2. Indicators: Currently, the RSI (Relative Strength Index) indicators show signs of overbought conditions, which may suggest a short-term correction. However, the MACD (Moving Averages Convergence Divergence) continues to demonstrate a bullish trend, supporting optimism for further growth.
3. Trend: With the current level of institutional investments and strong support for ETFs, the cryptocurrency may maintain a bullish trend in the long term. Notably, news about increased liquidity and the resilience of Bitcoin ETFs is particularly important.