BTC/USDT Analysis
2024-12-21
Category: None

Bitcoin has broken down from the rising wedge pattern and retested the breakdown zone, encountering strong resistance from both the Ichimoku Cloud and the 200MA.

Key Resistance: The upper green zone is around $98,000–$99,000.
Support Zone: The horizontal black box around $92,000–$94,000 serves as immediate support.
A failure to hold above this support zone could continue the downtrend, potentially targeting the larger beige demand zone near $78,000–$80,000.

Conversely, if BTC reclaims the green resistance zone, it could invalidate the bearish outlook and push higher.

Overall, the bias remains bearish unless BTC reclaims key resistance levels.

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your research and consult a financial advisor before making investment decisions.

For updates on other coins or personalized insights, feel free to reach out via DM.

DYOR, NFA

@Peter_CSAdmin
