#ReboundRally

Bitcoin coils between key trend lines as $98K boosts 'Kimchi premium'

Bitcoin (BTC) circled $98,000 into Dec. 25 as traders celebrated a well-timed Christmas Santa rally.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

BTC price lines up trend-line attacks

Data from Cointelegraph Markets Pro and TradingView showed BTC price volatility cooling as the holiday period began after $4,000 daily gains.

Analyzing low timeframes, popular trader Skew was quietly optimistic about the situation playing out in bulls’ favor.

“So far this bounce has played out here with price retesting the systematic trend which led price from $68K -> $108K,” he began in part of a post on X.

Skew revealed when he called a “clean” bullish relative strength index (RSI) divergence on the 4-hour chart, and described attempts to drive BTC/USD lower as a “failed auction.”

“Underlying momentum is pretty good, will be keeping an eye on this,” the post summarized.