DAY 6 - Daily BTC Update
2024-12-26
Category: None

Bitcoin delivered a Christmas milestone, breaking $100K on multiple exchanges. However, we now find ourselves in a land of limbo, with BTC trending between key pivot levels and no clear confirmation of the next major direction. 

Daily Chart Insights

📈 Momentum Turning Bullish

MACD: Flipping bullish, signalling potential strength in the trend.

RSI & Stochastic RSI: Both indicators suggest growing bullish momentum, showing signs of a reversal in market sentiment.

🔥 EMA Ribbon Recovery
Bitcoin’s daily candle has broken above the EMA ribbon, a key resistance zone, indicating that upward movement could gain traction if this trend holds.

Outlook

BTC's ability to maintain its position above the EMA ribbon and push past $100,800 will be pivotal in determining whether the bulls can regain full control. If successful, the next key level to watch is $105,720, leading to Pathway 1 for further gains.🎯 

The market sentiment is improving, but caution is key while BTC trends in this zone. Let’s see where the holiday momentum takes us! 🎁