🥰🥰BTC Price Analysis on December 17, 2024
🤩 1.As predicted, as of December 17, 2024, the price of Bitcoin (BTC) has reached an all-time high, exceeding $107,000 USD.
🤩2. Technical Analysis
👍Support:
$100,000 USD: An important psychological support level, where strong buying pressure may appear if the price adjusts.
👍$95,000 USD: The next support level, close to the price at which MicroStrategy purchased additional Bitcoin in the range of $95,000 - $100,000 USD.
Resistance:
👍$110,000 - $115 USD: The next target if the upward momentum continues, marking a new psychological milestone.
👍Momentum Indicator
RSI: Approaching the overbought zone, indicating the possibility of a correction or consolidation in the short term.
🤩3. Observation
The continuous new highs for BTC prices indicate a strong upward trend, supported by:
👍Pro-crypto policies: U.S. President Donald Trump re-elected and proposed a national BTC reserve strategy, instilling confidence in investors.
👍Institutional capital flow: Companies like MicroStrategy continue to buy large amounts of BTC, reinforcing confidence in this asset.
🤩4. However, investors should note
👍High volatility: The cryptocurrency market often experiences significant volatility, requiring strict risk management.
👍Potential for correction: With the RSI in the overbought zone, the likelihood of a correction or consolidation in the short term is high.
🤩5. Recommendations
👍Short-term investors: Consider taking partial profits and monitoring support levels to reinvest when the price adjusts.
👍Long-term investors: May continue to hold, but should closely monitor market developments and related policies.
🤩6. You can support the author:👉Tips: 23223650.Thanks🥰
