Bitcoin/USDT Analysis
2024-12-26
Category: None

Current Price: The chart shows Bitcoin trading at approximately $95,660, with recent downward momentum (-2.11%).

 Support Zone:  Around $91,800 - $93,500 (gray highlighted region), providing a strong base where price could potentially reverse or consolidate.

 Resistance Levels:
 
 
 $98,200 - $99,000: The first resistance level to watch if the price bounces upward.
 $101,000 - $102,000: A secondary resistance zone.
 $104,000 - $105,000: A higher resistance zone that aligns with previous peaks.
 

 Potential Scenarios:
 Bullish Scenario:  If Bitcoin holds above the support zone ($91,800 - $93,500), a rebound toward $98,200 and potentially $101,000 is likely. A breakout above $101,000 could pave the way to test the $104,000 - $105,000 range.
 Bearish Scenario:  A breakdown below $91,800 might signal further declines toward $90,000 or lower levels.
Trend Analysis: The short-term trend appears bearish; however, the support zone may serve as a strong reversal point for a potential upward move.