CandleFocus Bitcoin Technical Analysis: Is $103,000 the Final Hurdle Before a Massive Rally?
2024-12-13
Author: Content Editor
The price of Bitcoin is currently stable at $101,056 per coin, indicating a period of consolidation as traders analyze conflicting signals from various indicators. On the 1-hour chart, Bitcoin is in a consolidation pattern with a slight upward trend, with support at $99,000-$99,500 and resistance at $101,000-$101,500. The 4-hour chart shows a recovery from a low of $94,249, with support at $97,000-$98,000 and resistance at $102,582. The daily chart highlights a resistance at $103,000, but moving averages suggest positive opportunities. Overall, moving averages are bullish, but caution is advised as a breakdown below $94,000 could lead to a bearish reversal.
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