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The crypto market experienced a significant sell-off today, with Bitcoin (BTC) dropping notably below $94,000. Along with BTC, major altcoin prices are also declining, and the total cryptocurrency market capitalization has fallen to $3.3T, marking the lowest level in almost a month.
This sell-off stems from last week's Federal Reserve's (Fed’s) monetary policy announcement, with Bitcoin falling below $100,000. Market participants witnessed a sharp decline across cryptocurrencies, triggering substantial liquidations and affecting the total market capitalization.
Let’s check together why crypto is down today and what the technical price predictions for Bitcoin, Ethereum, Ripple, and XRP are.
Bitcoin Futures: Current Trading Range and Key Levels
Bitcoin futures are currently confined within a well-defined range of $92,000 to $98,000. This range is critical because it's framed by key levels that have historically influenced price action. These levels act as potential turning points, where buying or selling pressure can lead to reversals or breakouts.
Range Trading: Capitalize on price fluctuations within the $92,000 to $98,000 range. Buy near support and sell near resistance.
Breakout Trading:
Upside Breakout: A convincing break above $98,020 could signal a move towards $102,000 or higher.
Downside Breakout: A break below $92,450 could lead to declines towards $91,720 and $90,170.
Technical Analysis Tips for Bitcoin Futures:
Patience is Key: Don't chase price movements. Wait for Bitcoin to reach key levels and observe market reaction before entering trades.
Volume Confirmation: Look for increased volume to confirm breakouts or reversals.
Risk Management: Always use stop-loss orders to limit potential losses.
The Holiday Season and Bitcoin:
Historically, Bitcoin has shown mixed behavior during the holiday season. While some years have seen a "Santa rally" with increased buying activity, others have experienced declines. With Christmas Eve tomorrow, it's worth considering the potential impact of holiday trading on Bitcoin's price. Reduced trading volume and increased volatility are possible, so traders should exercise caution and be prepared for unexpected price swings.
By understanding these key levels, employing sound technical analysis principles, and considering the potential impact of the holiday season, Bitcoin futures traders can gain a significant edge in this volatile market. Remember to manage your risk and trade responsibly.. Always trade bitcoin at your own risk only.
What is the next prediction of BTC? Daily Bitcoin (BTC) Price Prediction For Next 30 Days
Dec 20, 2024 - $ 97,504.42
Dec 21, 2024 - $ 97,517.45
Dec 27, 2024 - $ 97,595.69
Jan 19, 2025 - $ 97,896.21
𝙒𝙝𝙮 𝙛𝙖𝙡𝙡𝙞𝙣𝙜 𝙗𝙩𝙘.
Bitcoin is down 5.9% in the last 24 hours to $95,237, according to CoinDesk data. The price of the digital token was hurt by the Federal Reserve's Wednesday comments indicating fewer interest-rate cuts in 2025, which have dampened the mood for the equity market as well. #BTCOutlook $BTC
BNB is trading at $679, showing resilience within its ascending parallel channel on the daily chart. The price recently tested and held the channel’s lower trendline as support, hinting at a potential bounce toward the upper trendline near the $794-800 area.
The 50-day exponential moving average (EMA), which is near $663, has acted as a support level, while the 200-day EMA at $590 remains a critical long-term cushion. Additionally, the RSI sits near 48, suggesting neutral momentum with room for further upside.
Fibonacci retracement levels align with the channel structure, with BNB rebounding from the 0.786 level near $670. A decisive close above $700 could increase the likelihood of retesting the $794-800 resistance.
However, failure to hold the channel’s support could expose the price to $625 or lower.
exactly, crypto currency prices start low on this week and rise throughout the week. when the weekend hits , prices tend to drop until market activity begins the following monday or Tuesday. #BTCNextMove
Disadvantages of holding Holding has the disadvantage of not giving you the experience of buying and selling assets, so you will not be able to develop a diversified portfolio. This means that you are exposing yourself to greater risk, as you will not have the tools to manage risk, nor the tools to choose the right assets.
Which is more profitable?
Most traders believe that you get a higher return by trading, although they take a much higher risk than by holding. For this reason, we recommend investing in both styles. There are assets that are more favourable to invest in years ahead, and others that can give you good profits in a matter of hours (if you trade correctly).
Finally, we would like to remind you that you can continue learning Trading in the best way with the Masterclasses from Binance.with financial training sessions full of formative and human quality, which will help you to order and structure the market with head.
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Each investor will also have a different financial goal, depending on their age and when they need their money. If an investor is 25, they might hold their investments for several years.
You can likely ride out market corrections or downturns if you have a long-term time horizon. However, if you might need the money in the short term, such as less than one or two years, you will need a different strategy for when to hold or sell investments. $BNB #BinanceAlphaTop5 #MarketCorrectionBuyOrHODL?
Binance Square is pleased to introduce the launch of a new campaign on the Task Center on the Binance App. Users can complete simple tasks daily to unlock a share of $5,000 in USDC token rewards and earn Binance Points.
Activity Period: 2024-12-19 06:00 (UTC) to 2024-12-25 06:00 (UTC)
All eligible users can complete each of the following tasks once every day during the Activity Period.
Tasks: 1. Check in to Binance Square daily.* 2. Create a post with at least 100 characters using the limited-time hashtag (e.g., $BTC) OR selected trading pair. 3. For new Square users who have never posted on Square before the Activity Period, their first post will count as double (i.e., 2 participations).
Notes: Limited-time hashtag and selected trading pair will be refreshed daily at 06:00 (UTC) and will run for 24 hours.
Completion of check-in AND creation of post (either with the hashtag OR the trading pair) counts as 1 participation. Users will need to complete both tasks within the 24-hour window for it to be counted as a valid entry.
Reward per Eligible Participant = Number of Tasks Completed / Total Number of Tasks Completed by All Participants * Reward Pool, capped at $10 per participant.
Terms & Conditions This Activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order for their entries to be counted as valid. Users will receive a share of the reward pool and Binance Points upon completion of tasks and will be able to redeem their voucher and Points via Profile > Rewards Hub. Token vouchers will be distributed within 21 working days after the campaign ends and expire 14 days after distribution. Points will expire on the last day of the same month a year later on a first-in, first-out basis. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards.