Bitcoin Short-Term Trading Analysis (December 2024)
Current Price: Around $97,415
Recent High: $106,000
Recent Low: $94,839
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Buy Signals (Entry Points):
Buy near $94,500 - $95,500 (Support zone)
Buy if Bitcoin breaks above $99,500 with strong volume (indicating an upward breakout)
Why?
Bitcoin has shown support around $94,500. If it holds this level, there’s potential for a bounce.
A breakout above $99,500 could push prices towards new highs.
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Sell Signals (Exit Points):
Sell if Bitcoin nears $100,000 - $102,000 (Resistance zone)
Sell if Bitcoin drops below $94,000 with strong selling pressure
Why?
Bitcoin faces resistance around $100,000. If it struggles to break this, it might retrace.
A drop below $94,000 could trigger further losses, leading to $90,000 or lower.
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Trading Tip:
Set Stop Loss:
If buying at $95,000: Stop loss at $93,500
If buying at breakout: Stop loss at $98,000
Take Profit:
Target $100,000 - $102,000
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Note: Bitcoin is highly volatile. Use small positions and monitor market trends closely.
