Bitcoin Correction: Targeting $98,000
2024-12-06

After failing twice to break through the upper boundary of its channel, Bitcoin has entered a corrective phase. It broke below the lower boundary of the channel, retested it as resistance, and is now gradually moving downward toward the $98,000 level.

This downward move appears to be part of a healthy market cycle, potentially resetting overbought conditions and creating new opportunities for buyers. Traders should watch for potential support zones and remain cautious of further volatility.