BTC Price Action Analysis
2024-12-22
Category: None

BTC Price Action Analysis:

BTC is showing signs of consolidation in the 90,000 - 108,000 range for the next few days. During this period, we expect the price to move sideways as the market digests recent price action. This phase of consolidation could bring some stability before a potential volatility spike.

After this consolidation phase, I anticipate a possible wick down to around 86,000. This wick would be a short-term shakeout, likely designed to liquidate weak hands before a strong bullish rally.

Following this shakeout, I’m expecting BTC to surge and achieve a new all-time high (ATH). The overall market sentiment remains bullish, but this could take some time to fully develop.

Key takeaways:
- Short-term consolidation expected between 90k and 108k.
- A potential wick to 86k could happen before the next big move.
- Long-term outlook remains bullish with a target of a new ATH.

Make sure to practice proper risk management, as volatility could create sudden price swings. As always, this is not financial advice, and I encourage you to do your own research (DYOR).