🥰🥰The market is on fire, BTC price analysis on 20/12/2024
🤩As of 20/12/2024, BTC is trading around $97,900, down about 2.3% from the previous day.
🤩Technical analysis:
👍Support:
$95,010: The nearest support level; if broken, the price may continue to drop further.
$90,100: The next support level, where buying pressure may emerge if the price continues to adjust.
👍Resistance:
$100,000: An important psychological resistance level; breaking through will reinforce the uptrend.
$103,000: A strong resistance level, corresponding to the recent peak; needs to be monitored if the price approaches.
🤩Momentum indicators:
RSI: Approaching the neutral zone, indicating a balance between buying and selling pressure in the short term.
🤩Remarks:
The recent decline in BTC price may be related to factors such as:
👍The statement from the U.S. Federal Reserve (Fed): The central bank does not want to hold the digital currency like BTC, putting downward pressure on the market.
👍Market sentiment: Uncertainty regarding monetary and macroeconomic policies continues to affect investment decisions in BTC.
🤩Recommendations:
👍Short-term investors: Need to be cautious, monitor important support and resistance levels to make appropriate trading decisions.
👍Long-term investors: Should reconsider investment strategies, taking into account market factors and policies that may affect BTC price.
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