BEARISH REVERSAL OF BITCOIN APPROACHING?

Bitcoin's recent price surge has sparked concerns about a potential bearish reversal.

As of November 25, 2024, Bitcoin's price had declined by 5% after approaching the $100,000 threshold.

This decline was preceded by a consolidation phase and a slight correction, indicating a loss of momentum in the short term.

Despite this short-term uncertainty, Bitcoin's medium and long-term trends remain bullish, supported by technical indicators.

The cryptocurrency's price is currently trading around $93,700, with the short-term trend turning downwards.

However, the 50 and 200-day moving averages remain oriented and crossed upwards, indicating a bullish outlook.

$Key Levels to Watch

Resistance: $98,400 and $100,000

Support: $91,500, $85,000, and $81,600

If Bitcoin fails to maintain a level above $91,500, it may find support around $85,000.

A prolonged decline could lead to support around $81,600.

Keep in mind that these analyses are based solely on technical criteria, and the price of cryptocurrencies can evolve quickly depending on other fundamental factors.$BTC