Cryptocurrency Market Analysis: Bearish Sentiment on the Verge of Eruption on 12.23! Can Bitcoin Find Support at 94,000? Latest Market Analysis

Article Published on 2024.12.22—06:10

Current Bitcoin price is 94,300. The real-time data from yesterday at 97,000 was closed at 94,500 before publication, securing profits. With less than two hours until the weekly and daily close, I do not recommend entering the market again; the bearish momentum is too strong in the short term. Wait for key levels before considering entry and observe for now.

Looking at the market, the analysis from the price trend indicates a clear downtrend in the current candlestick pattern, especially following the significant declines on the 20th and 19th, leading to a bearish market sentiment. In the 4-hour timeframe, the price formed a short-term high near 97,000 before continuously retreating, currently approaching the 95,000 psychological level. The technical indicators MACD show both DIF and DEA are in negative territory, and the MACD histogram is also in the negative zone, indicating that the market remains in a weak state.

The Relative Strength Index (RSI) is currently around 35.9, close to the oversold area but not yet in extreme oversold conditions, suggesting a potential technical rebound demand. The trend indicators EMA7, EMA30, and EMA120 are in a bearish arrangement, with the price below all moving averages, showing strong downward pressure. The trading volume in the 4-hour timeframe is relatively stable, with no significant signs of increased or decreased volume. The strategy suggested is to buy on dips and sell on highs.

Today's Price Prediction

Buy Point: 95,000, add long at 94,000, stop at 93,500, target 98,500

Sell Point: 98,000, add short at 99,000, stop at 99,500, target 96,500

The above is a brief analysis from the current market situation for reference by investors. Over the past ten years, I have continuously explored and experienced hundreds of different digital assets. Throughout this process, I have witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons. As a female trader striving in this challenging field, I feel a responsibility to share my insights, hoping to assist others with dreams in finding their place in this unpredictable market and embarking on their own successful journey.

The content of this article is time-sensitive and for reference only; risks are borne by the reader.

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