Merry Christmas Everyone! 🎄🎅
In the light of this festive evening, BTC silently made its way from 92k to 99k while most Alts made a lot of upward moves as well.
As of now, BTC is trading at 98k showing bullish momentum.
Looking at the 4 hour chart, it seems that 92k proved to be a very strong support zone, given that it bounced up from that level for the 3rd time in the past month.
We are now moving into the last week of the year which is very crucial:
1- At the end of the week, we mark the closure of the daily, weekly, monthly, and yearly candles. 📊 This is important as it will shape out how BTC’s price will trend throughout 2025.
2- We move into the month in which Trump officially claims his position as President.
📈 From this point on, given the strong bullish sentiment in the market, we can expect 2 progressions of BTC’s price (Personal analysis, DYOR):
1- A rapid retest to break 110k with failure could occuro in the coming few hours, after which, a correction to 104.5k could happen with a bounce + gradual build up to break 110k+ starting 2025.
2- Decreased Bitcoin trading volume with an upwards trend from 98k to 110k by end of the week + shifting attention to ALTs. This could mark the official start of the Alt season in which we can see many coins break their ATH.
⚠️ Alts are very risky at this point if Scenario 1 occurs as the prices could fluctuate significantly in both directions.
❔A further decline in price to reach 89k is still a possibility, but given set multiple bullish conditions, i highly doubt it. (In this case watch for a weak upwards trend from 98k to 100-104k followed by a sharp drop to 89k. From there if bullish sentiment is still there, could go over 110k rapidly) althought i highly doubt it.
⛑️Make sure you set ur TP/SL (I mean it) cuz in this scenario, you don’t know what coin can break it’s ATH then drop back to a price lower than your entry level. Trade cautiously either ways, and AVOID BEING GREEDY!
Best of luck and Happy Holidays ❤️✌️