Bitcoin Massive Pullback or Breakout? Stay Ahead
2024-12-25
Category: None

As we mentioned in our last post that Bitcoin is trading in ascending channel.After a breakdown from the channel BTC finds the support between at $92,600.82 to $91.500.93 zone in Green. 
Now, we are observing two possible scenarios:

Bearish Scenario:

BTC is currently testing its resistance at $99,267.19 and has been rejected multiple times, if the price of Bitcoin fails to break this resistance level we might see a pullback to its support zone Green, and if this zone fails to hold the price we could see some more drop in the price to next support zone at $86,125.66 to $85,159.31 in Blue. A strong bounce in this region could potentially set the stage for Bitcoin to make a new all-time high.

Bullish Scenario:

If the price of Bitcoin flips the resistance at $99,267.19 and the lower boundary of the ascending channel we could see the price reach the middle line of the channel. 

Overall we are bullish until 1st and 2nd quarter of 2025. Don't panic, these dips are good for filling your bags. If we see a correction in the price that we are expecting this is a blessing to us to fill our bags. 

This market loves to shake out the weak hands before making its real move. A pullback here might just be the perfect opportunity to position yourself smartly. But remember: discipline is key. Don’t rush—wait for confirmations at key levels.

Stay sharp and patient. This market isn’t for the faint-hearted, but the potential rewards for disciplined traders can be life-changing.
Let’s crush it! 
