Bitcoin (BTC) is witnessing significant fluctuations in its market value during December 2024. According to recent technical analyses, the price of Bitcoin has dropped to $95,195, indicating the possibility of continuing the downward corrective wave towards new negative targets starting at $90,750 and extending to $87,055.
On the other hand, previous analyses indicated that Bitcoin tried to move away from the support of the ascending channel, which reinforces expectations of building an upward wave targeting $104,900 levels and extending to $108,350, provided that it holds above $100,320.
Given these mixed indicators, it seems that Bitcoin is facing selling pressure that may push it towards further declines in the near term, especially if the current support levels are broken. However, holding above the pivotal support levels may provide an opportunity for a rebound and achieving new highs.
Accordingly, investors are advised to monitor key technical levels and make their investment decisions based on market movements and ensure that appropriate risk management strategies are used.