#BTCNextMove As of December 20, 2024, Bitcoin (BTC) is trading at approximately $96,446, reflecting a decrease of about 4.79% from the previous close.

Recent technical analysis indicates that Bitcoin is forming a rising wedge pattern on the daily timeframe, which is typically considered a bearish reversal setup. The price is nearing the wedge's apex, suggesting a potential breakout soon. The Relative Strength Index (RSI) shows bullish divergence with higher lows, indicating short-term bullish momentum; however, bearish RSI divergence at the top suggests a weakening trend.

Additionally, the USDT dominance chart reveals a descending triangle pattern with strong horizontal support around 3.9%. The price is consolidating near this support, and a breakdown or bounce could influence market direction. The RSI is forming a bullish divergence, indicating potential bullish momentum in the near term.

Given these technical indicators, traders should closely monitor key levels, as breaches could lead to significant price movements driven by cascading liquidations. It's important to note that cryptocurrency markets are highly volatile, and while technical analysis provides insights, it does not guarantee future performance.

For a more in-depth analysis, you might find the following video helpful: