Bitcoin Year-End Storm: Falls Below $92,000, Can’t Escape 20% Plunge at the Start of 2025?
The Bitcoin bulls have completely collapsed this time, and $100,000 has become a 'mirage', while the support at $92,000 is precarious! Once it can't hold, BTC is likely to free fall towards $71,000-$81,000, while $80,000-$85,000 may still provide a little breathing room for bottom-fishers.
Both sides of the market have been dozing off these days; trading volume has surged but fails to mask the weakness of the bulls. With just a little push on the sell side, the bears can easily feast. The bearish signals are becoming increasingly strong. Technically, the descending wedge + weak RSI is a clear prelude to a bear market. If $92,000 ultimately fails to hold, the bulls are likely to end this year in tears and shouldn't expect a strong advance next year.
Is a trend change coming? Or will we get a 'big surprise'? Brothers, how are you operating? Remember to follow Uncle Qian, don’t let the market lead you by the nose!
