The BTC rate returned to a stable downtrend on the 4-hour TF last night.

This, as was written yesterday, is an important and unexpected signal - according to our indicator, in the broken stable uptrend, only the first basic target of only +0.7% was achieved. Before this, since the beginning of July this year, out of 13 transitions to a stable uptrend, in 12 cases at least two basic targets were worked out. And more often - all three basic targets + some additional ones.

Currently, we have evidence of buyer weakness, which has not been seen since June. This should not be ignored. We believe that at least the nearest targets will be worked out.

Overall, it seems that the current movement with conflicting signals precedes some strong movement in BTC and the overall market. Which way - a good question; we do not have a definitive opinion at the moment. However, we did not expect and do not expect any new super-dump that would negate the alt season and reverse the market.

Currently, the targets according to the indicator for BTC on the 4-hour chart are:

- Basics:

-- 93,633$

-- 91,958$

-- 90,283$

- Additional:

-- 88,040$

-- 84,929$

Potential break level - 97,821$. Its additional importance - it is currently above the descending trend line from December 17. Its breakout with a retest and consolidation above would signal a break of the downtrend on the 4-hour chart and evidence of a reversal in the correction that has been ongoing since December 17. BUT until this trend line is broken - we are heading towards the targets according to the indicator. The question is at what level we will see signals of a potential low and a reversal into a sustainable uptrend on the hourly timeframe.

Let us remind you that on the 12-hour timeframe, the asset also has a stable downtrend and only two basic targets: 91,465$ and 88,139$. On the daily timeframe, a stable uptrend is still maintained. Since September.

Regarding volume levels, trend lines, and EMA, the situation is, in short:

- During yesterday's decline, we hit the volume level of 93,610$ and bounced above 94,199$, testing it several times. The next resistance is at 95,665$.

- Currently, the price is trying to recover above the secondary descending trend line from November 22 (shown with a dashed line on the chart with volume levels).

- At 92,856$, there is currently an ascending trend line support from November 17 (shown with a solid line on the chart with volume levels). It halted declines on December 20 and 23.

- Global trend line at the highs of the previous cycle - currently at 91,507$. Previously (November 26 and December 5) it acted as a decisive support several times. It is indicated with a dotted line on the chart with the indicator.

- At 85,094$, - currently an ascending trend line support from October 10 of this year. Also indicated with a dotted line on the chart with the indicator.

- For the nearest important supports by EMA - primarily the 50-day EMA, currently at 93,255$. VERY important support; closing below it with the body of a daily candle would mean a more significant correction below 90,000$. Further among the nearest supports by moving averages - only the 200 EMA of the 12-hour timeframe, currently at 84,950$.

ps: The volatility index of BTC price continues to decrease today, with the prospect of declining until January 1-3.

pps: The recent decline and the current price range of #BTC are noteworthy in that BTC dominance has also declined exactly in the same way and is currently in a range. We will analyze dominance and the picture for altcoins separately.