📈 $BTC

/USDT Technical Analysis on Binance | 29th December 2024 🎯

Bitcoin (BTC) has shown mixed signals today, trading around $94,743.64 at the time of writing. Let’s dive into the technical analysis and highlight three potential price targets based on key indicators:

Key Technical Insights

1. Parabolic SAR (0.02, 0.2):

The current SAR value is $94,279.24, indicating a potential short-term uptrend. If the price stays above this level, buyers might gain confidence.

2. Bollinger Bands:

BTC is moving near the upper band, signaling high volatility. A breakout above $95,800 could lead to a continuation of the bullish momentum.

3. MACD and RSI:

MACD is slightly bearish, with the signal line crossing over. However, it remains close to the zero line, suggesting indecision.

RSI is hovering around 52, indicating a neutral momentum, neither oversold nor overbought.

Targets to Watch 🎯

1. Target 1: $95,800

A key resistance level aligned with the 24-hour high. A break above this could spark a rally toward higher levels.

2. Target 2: $94,000

This support level aligns with the 24-hour low. If BTC breaks below this, further downside to $92,500 might occur.

3. Target 3: $97,000

A psychological level where heavy resistance might emerge. If bulls maintain momentum, this could serve as the next breakout zone.

Summary

Bitcoin is consolidating within a tight range, but high trading volumes (8,580 BTC in the last 24 hours) suggest increased market activity. Watch for breaks above $95,800 or below $94,000 to gauge the next move.

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