#BTCOutlook

Bitcoin Market Analysis

December 22, 2024

⚪️TECHNICAL (4H)

BTC is currently retesting below the descending channel, a critical juncture for market direction. A successful retest at this level would confirm bearish momentum, signaling potential continuation to the downside. Conversely, a candle close back inside the channel could indicate a bullish reversal, suggesting renewed upward pressure.

Traders should closely monitor price action and volume at these levels to assess confirmation and align their strategies accordingly. The coming sessions will be pivotal in determining BTC's short-term trajectory.

⚪️WRAP-UP (VIP)

BTC is retesting below the descending channel. A successful retest confirms bearish momentum, while a close inside signals a bullish reversal.

$BTC DAILY RANGE:

📈Upper Limit: 99500

📉Lower Limit: 97100

(+-10% based on moving average volatility open/endpoints)