CandleFocus Bitcoin’s Dying Momentum Needs a Christmas Miracle to Reclaim $100,000
2024-12-25
Author: Content Editor
Bitcoin's price momentum has slowed and is struggling to break through the $100,000 resistance level. There are concerns about a potential sharp decline in BTC's value, as long-term holders are liquidating their positions to mitigate potential losses. This shift in sentiment, along with a declining Relative Strength Index (RSI), suggests a lack of confidence in a sustained bullish recovery. Traders and investors are closely monitoring the RSI for signs of a potential reversal or continued downturn. If Bitcoin fails to flip the $100,000 level into support, it may drop to $95,668 and potentially even lower. On the other hand, if BTC can reclaim $100,000 as support, it could rise to $105,000 and potentially reach its all-time high. Strong buying activity and renewed market confidence would be needed for such a recovery.
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