Bitcoin (BTCUSD) Price Resumes the Downward Correction – Today's Forecast 12-26-2024

Bitcoin (BTCUSD) price trades are rebounding downwards after hitting the resistance of the downward corrective channel shown on the chart, to start pressure on the 23.6% Fibonacci correction level, which constitutes an important support at $95195.00, and the price needs to break this level to confirm the rush towards our negative targets that start at $91000.00 and extend to reach the 38.2% Fibonacci correction level at $87055.00.

Therefore, the downward bias will be likely during the upcoming sessions, taking into account that breaking $99170.00 will stop the expected decline and lead the price to try to regain the main upward trend again.

Expected trading range for today is between support $92000.00 and resistance $98000.00

Today's price forecast: Low $BTC