Bitcoin Price Analysis & Prediction (December 29, 2024)

📊 Current Status

Bitcoin (BTC/USDT) is trading at $95,156, hovering around a critical support zone. With recent price movements, it’s crucial to watch the next resistance and support levels for potential price action.

🔍 Key Observations

1️⃣ Support Zones

• Immediate Support: $95,019

• Strong Support: $91,003

• Major Support: $89,349

A break below these levels may lead to a steeper decline, potentially targeting $80,372 in a bearish scenario.

2️⃣ Resistance Zones

• First Resistance: $96,656

• Major Resistance: $99,717

• Psychological Barrier: $100,000

If BTC breaks above $96,656, it may retest $99,717, with the psychological level of $100,000 acting as a strong barrier.

3️⃣ Trend Outlook

• Neutral to Slightly Bearish: Current price action suggests consolidation within the $91,000–$96,000 range.

• A strong breakout above $96,656 could reignite bullish momentum.

🔮 Prediction: Next Resistance at $96,656

Based on the chart:

✔️ BTC may face resistance at $96,656, which could limit upward movement temporarily.

✔️ If buyers gain control, a rally toward $99,717 and beyond is possible.

✔️ On the downside, a break below $95,000 could trigger a decline toward $91,000.

🚨 What This Means for You

💡 Traders: Watch the $96,656 level closely for breakout or rejection signals.

💡 Investors: Strong support zones around $91,000 could offer buying opportunities if BTC corrects further.

Disclaimer

This is not financial advice. I’m just sharing my thoughts based on technical analysis. Always do your own research before making investment decisions!

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