BTC/USDT Weekly Chart Analysis. 
2024-12-17
Category: None

BTC/USDT Weekly Chart Analysis. 

A classic bullish reversal pattern has played out successfully.
The structures of the left, head, and right shoulder are perfectly aligned, confirming the breakout above the neckline.
BTC has broken its previous all-time high resistance, pushing above the $100,000 level with strong momentum.
The current sharp rally suggests overextension; a pullback could occur.

Trendlines and Resistance Areas:
BTC has crossed a long-term upward trendline and broken above the resistance area (highlighted in beige).
The breakout signals a shift in price discovery with a possible consolidation or retest.
The 21 EMA (black line) remains well below the current price, confirming bullish strength.
If the momentum sustains, BTC could rise to $120,000-$130,000 in the coming weeks.

The previous resistance area ($80,000-$85,000) could be retested.
This would allow for consolidation before the next leg up.

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.

@Peter_CSAdmin