As a seasoned crypto investor with battle-tested nerves and a knapsack full of lessons learned from the crypto rollercoaster, I find myself standing at the precipice of yet another potential inflection point for Bitcoin (BTC). The latest price action has me contemplating my next move, much like a chess grandmaster pondering over an intricate position on the board.
Bears remain more powerful than bulls on the last day of the week, according to CoinMarketCap.
BTC/USD
BITCOIN (BTC) saw a 0.42% growth compared to its value yesterday. Within the past week, its price climbed up by 2.89%.
On an hourly timeframe, Bitcoin’s price movement appears horizontal, suggesting neither buyers nor sellers hold significant control. The decreasing trading volume indicates a lack of both bullish and bearish momentum.
In summary, it’s more probable that the price will fall within a tight range between approximately $101,600 and $102,600 by tomorrow.
Looking at a larger time period, the primary cryptocurrency appeared to have made a false breakout past yesterday’s peak of $102,638. If today’s closing price strays significantly from this level, it might signal a temporary drop towards the $101,000 region.
Looking at the midpoint, Bitcoin‘s rate isn’t close to significant levels at this moment. Therefore, traders should pay attention to the closing of the current candle as it nears its peak. If the closing occurs near the current prices, there might be a possible test of the $104,630 level in the coming week.
Bitcoin is trading at $102,019 at press time.
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2024-12-15 13:17