BitcoinShort
BTC Retracement from 99.5k: Where Are the Key Support levels?
Bitcoin (BTC) is currently experiencing a retracement from the 100k resistance level, marking the first time since breaking out from the previous 74k high that it has printed consecutive lower lows on the 4-hour timeframe. A significant ascending trendline (red) has been broken, suggesting a further decline even if BTC rebounds at this level.
However, high-timeframe bullish momentum remains intact, and my custom indicators suggest that BTC can withstand a further decline of 8k-10k USD.
Where might this BTC correction land? Key levels to watch are 89k, 85k, and 81k, along with the descending trendline (green) as solid support. There is also a fair value gap present.
I anticipate a bullish continuation or at least consolidation this December, but as always, traders should remain cautious.
However, high-timeframe bullish momentum remains intact, and my custom indicators suggest that BTC can withstand a further decline of 8k-10k USD.
Where might this BTC correction land? Key levels to watch are 89k, 85k, and 81k, along with the descending trendline (green) as solid support. There is also a fair value gap present.
I anticipate a bullish continuation or at least consolidation this December, but as always, traders should remain cautious.
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