CandleFocus As Bitcoin Rally Stalls at $106K, Could $110K Be Next?
2024-12-16
Author: Content Editor
Bitcoin recently reached an all-time high of $106,533 and experienced a 3% surge on Sunday. The cryptocurrency is currently testing the resistance of a rising channel and the 38.20% Fibonacci level at $105,587. Technical indicators, such as EMAs and the MACD, suggest a bullish bias for Bitcoin. If the cryptocurrency can break through the resistance, it may set a new all-time high and target the 50% Fibonacci level at $110,375. However, if it fails to break through, there is a downside risk of 2.5%, with potential support at the key trendline and 20-EMA.
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