🚨 $BTC 🔥📊👇🏻
Here is the current analysis of Bitcoin (BTC) for December 12, 2024:
1. Price Movement and Current Levels:
Bitcoin is trading around $101,050, marking a slight recovery after recent corrections from the $104,000 zone.
A key resistance remains at $105,000, with analysts suggesting that breaking this level could open the way toward $115,000 to $141,000 by the end of the year.
2. Institutional Interest and Market Dynamics:
Institutional demand continues to play a major role, with significant inflows into Bitcoin ETFs reaching over $31 billion, creating a "supply vacuum." Long-term holders are maintaining their positions, further reducing available supply.
Bitcoin's bullish momentum is supported by historical trends, especially during election years, where December gains have historically ranged between **30% and 46%**.
3. Support and Resistance Levels:
Support is currently seen around $99,000, while failure to maintain this level could lead to a pullback toward $88,986.
If Bitcoin closes a daily candle above $104,000, analysts expect the next target to be $115,000, aligning with your earlier analysis.
4. Market Sentiment:
Sentiment remains bullish with strong whale accumulation observed in November, totaling 63,922 BTC. Analysts interpret this as a positive sign for continued upward movement.
In conclusion, Bitcoin is positioned for potential gains in December, contingent on breaking resistance at $104,000–$105,000. Continued institutional interest and reduced exchange reserves are key factors supporting its bullish outlook. However, market volatility remains a risk, so caution is advised. #MarketMajorComeback #BTCReclaims101K #MicroStrategyVsNasdaq #RLUSDApprovalBoostXRP #Write2Earn!