CandleFocus Bitcoin Price Analysis: Is BTC Finally Ready to Conquer $100K After Recent Corrections?
2024-12-11
Author: Content Editor
Bitcoin's price is struggling to stay above the $100,000 level, but the market structure suggests that it is only a matter of time before it breaks out higher. The daily timeframe shows gradual climbs and bullish momentum, indicating a potential breakout soon. The 4-hour chart reveals a narrow ascending channel, with the asset currently finding support at the lower boundary. If this support is broken, a drop towards the $90,000 support zone could occur, but the bearish scenario seems less likely. Meanwhile, the futures market sentiment has cooled down due to the flash crash after briefly reaching $100,000, leading to significant liquidations. However, the funding rates have returned to normal values, suggesting a more sustainable rally in the future.
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