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The Cryptonomics™ > Consulting > Bitcoin Value Corrects, But Assist Zones Preserve Bulls in Play
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Bitcoin Value Corrects, But Assist Zones Preserve Bulls in Play

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Last updated: December 18, 2024 10:49 pm
admin Published December 18, 2024
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Bitcoin Value Corrects, But Assist Zones Preserve Bulls in Play


Contents
Bitcoin Value Stays In UptrendExtra Downsides In BTC?

Este artículo también está disponible en español.

Bitcoin worth began one other improve above the $106,000 resistance zone. BTC traded to a brand new all-time excessive above $108,000 and is presently correcting features.

  • Bitcoin began a recent surge above the $106,000 zone.
  • The value is buying and selling above $105,000 and the 100 hourly Easy transferring common.
  • There was a break beneath a key bullish pattern line with help at $106,000 on the hourly chart of the BTC/USD pair (information feed from Kraken).
  • The pair might begin a recent improve if it stays above the $103,750 help zone.

Bitcoin Value Stays In Uptrend

Bitcoin worth fashioned a base and began a recent improve above the $103,500 zone. There was a transfer above the $104,000 and $105,000 ranges.

The value even cleared the $106,000 degree. A brand new all-time excessive was fashioned at $108,297 and the worth is now correcting features. There was a minor decline beneath the 23.6% Fib retracement degree of the latest wave from the $99,250 swing low to the $108,297 excessive.

There was a break beneath a key bullish pattern line with help at $106,000 on the hourly chart of the BTC/USD pair. Bitcoin worth is now buying and selling above $105,000 and the 100 hourly Easy transferring common.

On the upside, the worth might face resistance close to the $106,200 degree. The primary key resistance is close to the $107,750 degree. A transparent transfer above the $107,750 resistance may ship the worth larger. The following key resistance may very well be $108,250. A detailed above the $108,250 resistance may ship the worth additional larger.

Supply: BTCUSD on TradingView.com

Within the said case, the worth might rise and check the $112,000 resistance degree. Any extra features may ship the worth towards the $115,000 degree.

Extra Downsides In BTC?

If Bitcoin fails to rise above the $106,200 resistance zone, it might proceed to maneuver down. Fast help on the draw back is close to the $105,000 degree.

The primary main help is close to the $103,750 degree or the 50% Fib retracement degree of the latest wave from the $99,250 swing low to the $108,297 excessive. The following help is now close to the $102,200 zone. Any extra losses may ship the worth towards the $100,500 help within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now dropping tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now above the 50 degree.

Main Assist Ranges – $105,000, adopted by $103,750.

Main Resistance Ranges – $106,200, and $108,250.



Supply hyperlink

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