🥰🥰BTC price analysis on December 18, 2024?
🤩As of December 18, 2024, BTC has experienced significant volatility, reaching an all-time high and then slightly adjusting.
🤩1. Technical analysis
Support:
100,000 USD: An important psychological support level where buying pressure may emerge if the price continues to adjust.
95,000 USD: The next support level, reinforcing the upward trend if the price drops further.
Resistance:
109,000 USD: The nearest resistance level, corresponding to the recent peak.
112,000 USD: The next target if the upward momentum continues.
🤩2. Momentum indicators
RSI: Approaching the overbought zone, indicating a potential adjustment or accumulation in the short term.
🤩3. Observations
Bitcoin's continuous new highs indicate a strong upward trend, supported by factors such as:
Pro-cryptocurrency policies: U.S. President Donald Trump re-elected and proposing a national Bitcoin reserve strategy, creating confidence for investors.
Institutional inflows: Bitcoin ETF funds have attracted significant capital, reinforcing trust in this asset.
🤩4. Investors should note
High volatility: The cryptocurrency market often experiences strong fluctuations, requiring tight risk management.
Possibility of adjustment: With the RSI in the overbought zone, the likelihood of adjustment or accumulation in the short term is high.
🤩5. Recommendations
Short-term investors: Consider taking partial profits and monitor support levels for reinvestment when the price adjusts.
Long-term investors: May continue to hold, but should closely monitor market developments and related policies.
