Bitcoin Breakdown Below $92K Could Test $74K Support
2024-12-23
Category: None

Bitcoin at $92,000 is crucial. $92.3K aligns perfectly with VWAP on the 1-day timeframe, this confluence makes  GETTEX:92K  a crucial support level that represents the "fair value" of Bitcoin based on both price and volume in other words buyers and sellers agree on value. A breakdown at this point would signify that sellers are gaining control, making a shift in market sentiment.
A Breakdown of $92,000 could cause panic, triggering a cascade of liquidations and further declines.

$74K and $72K are Major Confluence Zone, the SMA200 and VWAP align at $72K creating a strong confluence this makes it a CRITICAL SUPPORT LEVEL that could act as potential reversal point or
attract significant buying interest (optimal buy zone).

While the immediate risk of Bitcoin breaking down $92,000 and retest $74,000 zone looms large, the broader macro environment under the next Bitcoin-supportive administration has great potential to counterbalance market fears.