CandleFocus Bitcoin Is Forming A Symmetrical Triangle – Can BTC Reclaim $100K?
2024-12-25
Author: Content Editor
Bitcoin experienced a surge on Christmas Eve, reaching an intraday high of $99,400 and reigniting bullish sentiment. Analysts are closely watching for the next move, with expectations of continued momentum and a challenge towards the $100,000 milestone. Analyst Carl Runefelt highlighted a symmetrical triangle pattern on BTC's hourly chart, suggesting a potential breakout and further gains. However, traders remain cautious due to possible short-term volatility. Bitcoin's resilience and ability to hold critical demand levels indicate confidence in reaching $100,000. Breaking the symmetrical triangle pattern could lead to new all-time highs. BTC currently faces resistance at the 4-hour 200 MA, with a successful push above confirming a bullish trajectory towards $100,000. Failure to reclaim this level could result in consolidation below $100,000. Traders are eagerly awaiting confirmation of Bitcoin's next move.
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