#ChristmasMarketAnalysis

Bitcoin & Market Update – 22 December

As shared on 20 December, BTC's trade setup highlighted a buy opportunity around the $93K-$94K zone. Alhamdulillah, from this zone, Bitcoin surged to $99,540, successfully hitting our TP2 at $98,800. However, after reaching $99,540, BTC faced rejection and dropped to $95,890, before bouncing back. Currently, it is trading around the $97,200 range. InshaAllah, all targets will soon be achieved.

BTC Dominance (BTC.D):

On the daily timeframe, BTC.D is currently trading within its resistance zone near 59%. According to the Ichimoku Cloud, it is holding below this resistance, which is acting as a strong barrier. InshaAllah, we anticipate a significant drop from here soon.

Market Sentiment Updates:

Fear & Greed Index: The current sentiment score is 73 (Greed), showing steady optimism in the market. However, traders should exercise caution as such levels often precede corrections. Last month’s 94 (Extreme Greed) highlights the market's cooling off phase.

Altseason Index: Currently at 47, the market is in a balanced state. This indicates neither Bitcoin dominance (score < 25) nor Altcoin dominance (score > 75). However, with BTC.D facing resistance, InshaAllah, we might see altcoins gaining strength soon.

Disclaimer: I am not a financial advisor. All updates shared here are for educational purposes only. Please do your own research before making any financial decisions.#BTCNextMove