BTC/USDT Analysis
Support Levels: $92,000 and $85,000
Resistance Level: $100,000
Bitcoin (BTC) closed the day at $98,000, maintaining its bullish momentum within the structure of a bull flag pattern. In a notable development, SEC Chair Gary Gensler has announced his resignation, while the Microsoft board is set to vote on December 10th regarding a potential investment in Bitcoin.
The ongoing rally has driven BTC to a new high of $99,400, inching closer to the historic $100,000 milestone. Breaking past this psychological barrier would be a significant achievement, though traders should remain cautious of increased sell pressure and profit-taking, which could trigger a pullback to the support zones at $92,000 and $85,000.
BTC dominance has started to decline, and a drop below 59% could pave the way for an altcoin rally, signaling a potential shift in market dynamics.
