WildWest® Market Analysis

December 12, 2024,

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⚪️TECHNICAL (4H)

BTC trades within an ascending triangle, a technical pattern often associated with potential continuation or reversal trends. To confirm the next direction, many analysts are looking for a decisive breakout or breakdown followed by a retest of the respective level. A breakout with a successful retest above the resistance could indicate further bullish momentum, potentially pushing BTC to new highs.

Conversely, a breakdown with a retest of the lower trendline might suggest a bearish trend reversal, leading to further downside movement. Until a clear move materializes, BTC is likely to continue oscillating within the boundaries of the triangle, reflecting a period of consolidation.

⚪️WRAP-UP

The ascending triangle provides a clear framework for observing BTC's price action, patience is key. A confirmed breakout or breakdown, supported by a retest, will serve as a more reliable indicator of the cryptocurrency's next significant move. Until then, traders should remain cautious and prepared for potential volatility.

$BTC DAILY RANGE:

📈Upper Limit: 101800

📉Lower Limit: 95650

(+-11% based on moving average volatility open/endpoints)

📌SCALP ENTRIES

(*Advanced traders only - moderate/high risk)

🔵LONG

💲96000

🔴SHORT

💲104500

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WildWest® Trading