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Is Bitcoin’s $92K Dip the Perfect Setup for a Bull Market?

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  • Bitcoin’s recent $92K dip is seen as a healthy shakeout, not a bearish signal, with experts anticipating a rebound above $97K soon.
  • Key support at $90K and resilience from whales signal Bitcoin’s strength, hinting at steady growth toward a 2025 bull market.
  • Investors should stay patient; gradual price recovery and long-term bullish trends may reward disciplined strategies.

The current price slump of Bitcoin is not being considered as a bearish signal by the experts as they expect the price to rebound in the future. On Saturday, in an X post, Alan Santana pointed out that even though BTC had a temporary correction and dropped to $92,000, the market is still optimistic, and most analysts believe the asset’s price will go up.

The current price of Bitcoin stands at around $97,000, and much of the market views this level as a good sign. The recent drop to 92K is being called a ‘shakeout,’ a perfectly ordinary market phenomenon that usually occurs before prices rally. Santana believes that this higher low, means that the market is strong and has the ability to recover from the minor drop. 

Bitcoin Bull Market

Bitcoin’s current support at 90K is still very much valid. This support, coupled up with key moving average suggests that Bitcoin could potentially trade above this range that many perceive to be important for further upside.

The market strength is also reflected in the actions of large Bitcoin holders also referred to as ‘whales’. Since the profits have probably been made from the previous rises, these whales are not expected to control the market in the short term. 

Nevertheless, experts are quite optimistic concerning the future of Bitcoin as the asset has shown quite strong performance. The next couple of months might observe a slow but steady inflation which may result in a large rise by the last week of February 2025. Once the market stabilizes, altcoins may have their own bullish trends, but BTC will most likely be the one leading the pack particularly as we progress towards the 2025 bull market.

Optimistic BTC Outlook

It is important for investors who may have been affected by the recent pull back to be patient. Some people may have entered at a higher price level or have missed the opportunity to take profit at higher levels earlier during the up moves, but experts say that there is still hope. This will be important for post mortem analysis and repositioning for the next market cycle. As of writing, BTC is trading at $98,549, up by 3,61% over the past day.

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Source: TradingView

The trend for Bitcoin is still optimistic even with the recent volatility. The next phase of growth is projected to be a slow but consistent one, with BTC remaining in a good place to keep climbing. As a result, patient and disciplined investors will most probably be rewarded in the next few years.

XRP’s Next Move: Will $1.90 Hold or Short Positions Be Liquidated?

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  • Ripple’s XRP price movements are crucial, with a potential $2.62 rebound possibly triggering a $20.5M short position liquidation.
  • Analysts view XRP’s current fluctuations as “noise,” with a potential double-bottom formation at the $1.90 level signaling a bullish reversal.
  • XRP’s trading range mirrors past cycles, moving between $2.00–$2.26, showing no major deviations despite market shifts.

Ripple (XRP) is in a crucial position in the cryptocurrency market, and experts are following its price and possible large fluctuations. Crypto analyst Ali Martinez pointed out in an X post that a potential bounce back to $2.62 could force the liquidation of short positions worth $20.5 million

Egrag Crypto offered more analysis of the price of token. From technical perspective, the current oscillations in XRP value are described as “noise” He also noted that the price of token is now trading back towards the December 10th low of $1.90, which is a level that could lead to a double bottom. This pattern is a classic example of a bullish pattern which indicates that the price may be about to reverse its trend.

XRP’s Historical Price Range

The analysis also focused on the macro-range behavior of coin and compared it to the current activity. In the previous cycles, XRP had its trading range from $0.50 to $1.00. At the time of writing, Ripple token is moving between $2.00 and $2.26, which has similar action at higher price zones. This shows that there are no significant deviation from the historical behavior of coin despite the changes in market trends.

The collapse below the $1.90 support level was however downplayed by analysts arguing that a breach of the level in the lower time frames will not warrant much concern. These are but normal fluctuations in the market economy, which portray the short term trends rather than the long term trends.

XRP Price Surge Potential

This has been strengthened by the potential liquidation of $20.5 million in short positions, which makes the near future of coin more exciting. In case the price rises and up to $2.62, more traders can be attracted, and the market will gain more confidence. But when the price stays below the critical support level, the investors may start getting a bit pessimistic.

This comes at a time when the currency is asserting its dominance over the rest of the cryptocurrencies’ market. Since traders and analysts pay close attention to the asset at this point, how it will perform in this stage may hold significant consequences. 

Regardless of whether it cement its position above important levels or meets more difficulties, Ripple token still captures the attention of the market participants. Given the roles and trends in the current token, the next steps in the XRP journey will define its story in the coming weeks.

Is Bitcoin’s Decline Setting the Stage for Q1 2025 Altseason?

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  • Bitcoin dips below $95K, stirring altseason hopes as market volatility rises amid the Federal Reserve’s interest rate policy shift.
  • Crypto Rover foresees Q1 2025 altcoin surge driven by returning liquidity and stabilizing Bitcoin trends.
  • Optimism persists among investors, seeing recent dips as normal corrections rather than indicators of a weakening market.

Bitcoin has dipped below the $95,000 mark, and there is much excited conjecture about whether an altcoin season may be looming. The fall coincides with heightened volatility in conventional markets amid the Federal Reserve’s policy switch on interest rates and monetary policy tightening.

In a recent YouTube video, Crypto Rover pointed out that a 4.5% plunge in the US stock market has contributed to Bitcoin’s decline as investors respond to Fed Chairman Jerome Powell’s gloomy economic outlook. This has been compounded by a record $671 million worth of outflows from BTC ETFs, a type of investment product listed on exchanges.

Bitcoin’s Critical Support

Bitcoin has fallen sharply and violated important upward trends in shorter time horizons, which is causing concern among traders. The 4-hour chart shows that crucial levels have been broken but on the 12-hour chart, there is still some hope as the cryptocurrency stays close to important support levels.

The drop in Bitcoin’s dominance has sparked interest in altcoins even though many of them are still somewhat tied to Bitcoin’s price. The second largest cryptocurrency, Ethereum, has issues and has dropped below important support levels. According to analysts, the retest of the $2,900 area may present a buying opportunity, which is in line with the current sideways pattern in the altcoin market.

Some of the investors are already panicking after BTC’s recent drop thinking that this is the end of the current bull cycle. Some of the metrics include the Pi Cycle Top Indicator which does not signal a reversal soon; many traders believe the four-year cycle is still in force. Similar corrections were observed in the past during the bull runs, which was followed by the price surge.

Altcoin Season Looms

Analysts are predicting that Q1 2025 might become a powerful season of altcoins as global liquidity will be returned and the BTC trend might become stable. As the BTC dominance remains rather stable, the next several weeks may be crucial for altcoin gains, particularly in those projects with a strong base.

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Source: CryptoRover

Despite the current problems, investors for the future are hopeful. Many see the dip as a normal reaction to macroeconomic factors rather than as evidence of a serious pathology in the system. As we approach the end of the year and the market continues to find its footing with the Federal Reserve’s policies, the story going into 2025 will likely be the strength of Bitcoin and the performance of altcoins.

Tron Dominates Blockchain Transactions: 3 Months of Unmatched Growth

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  • Tron leads blockchain transaction volumes with 182M in October, 167M in November, and 135M in December, outpacing competitors.
  • Tether’s activity drives Tron’s dominance, offering low-cost, fast USDT transfers, cementing its role in high-volume crypto operations.
  • Tron’s scalability and strategic focus make it a reliable platform, attracting global users and shaping the future of blockchain finance.

Tron has managed to secure the top position in the blockchain transaction volumes and has been advancing better than its competitors for the last three months. According to the analytical service CryptoQuant, Tron processed 182 million transactions in October, 167 million in November, and 135 million in December. This is quite a major achievement for platform as it continues to battle for supremacy in the already saturated cryptocurrency market.

Tether Boosts Tron Activity

This is despite the fact that activity on the TON blockchain has also been on the rise – though from a much lower base – due to its previous use in hosting Telegram-based games. Thus, when users changed their attention, Tron seized the moment and started to cement its position with specific use cases. A large part of the platform activity has been attributed to the stablecoin Tether (USDT) which is now considered an integral part of the network.

This dominance of Tether on Tron can be explained by the fact that it is a cheap and fast way for users, including those who trade cryptocurrencies and make cross-border payments. Being a blockchain, the platform has low transaction costs and fast processing that makes it convenient to transfer USDT. This preference for platform has only helped to cement the platform as a reliable and robust choice for high traffic operations.

Tron’s Strategic Growth

The steady increase in transaction activity proves that company can effectively meet the needs of the market and expand according to requirement. The high level of activity coupled with minimal effect on the network is an indication of the network’s strength. Therefore, token has gained millions of users from all over the globe to be a reliable platform.

The above success is also in line with its positioning in the cryptocurrency market. Through such a model for utilizing its resources, such as stablecoin transfers, Tron has been able to accommodate the needs of ordinary users as well as institutions. This has enabled the blockchain technology to continue playing its role and to receive steady adoption even in a highly competitive environment.

The past three months have shown that TRON has a clear and well thought out strategy as well as the technological prowess to back it up. With Cryptocurrency increasing its footprint across the globe, platform is well placed to continue leading the way in shaping the future of Blockchain and Digital Finance.

Bitcoin Crashes Then Recovers: Is a Big Breakout Around the Corner?

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  • Bitcoin’s price dropped sharply from $103,500 to $98,000 after Federal Reserve Chair Jerome Powell dismissed rumors of a U.S. Bitcoin reserve.
  • The cryptocurrency quickly regained its footing, remaining in an upward trendline with higher highs and lows, despite bearish signals.
  • Investors are shifting to altcoins, anticipating a 2025 “alt season,” while BlackRock’s $359M ETF inflow highlights institutional confidence.

Bitcoin faced a huge volatility yesterday where the price dropped from $103,500 to $98,000. This came as Federal Reserve Chair Jerome Powell, cast a wet blanket on speculations that the US government will embrace Bitcoin. In a recent YouTube video, Crypto Rover pointed out that the cryptocurrency has since started to recover and this has given traders hope.

Powell discussed Bitcoin during his recent speech, saying that the Federal Reserve does not have the ability to hold Bitcoin and any changes in the policies need congressional approval. This statement was in response to rumors that the US was planning to build a strategic BTC reserve, something that could be seen to increase institutional investment. The market did not take long to respond, with Bitcoin’s value crashing immediately after the announcement.

Bitcoin Regains Stability

Nonetheless, Bitcoin quickly regained its footing and made an attempt to break the important upward trendline once more. It is worth mentioning that now the cryptocurrency is still in the upward trend channel, the higher highs and higher lows have been formed. This trend indicates stability at the same time that bearish signals, including the recent divergences on charts, are apparent.

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Source: Chart by CryptoRover

This is now shifting to the other coins, and people are looking at them as BTC becomes more stable. Some of the investors have capitalized on the recent pull back to buy more altcoins in anticipation of the next “alt season” expected to be in early 2025. The past has revealed that altcoins rally when BTC is within a range, which is further boosting the sector’s sentiments.

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Source: Chart by CryptoRover

Institutional activity has also been the key driver of recent events. BlackRock, the world’s largest asset manager, said it had added $359m to its Bitcoin exchange-traded fund (ETF). This is a very positive sign for Bitcoin’s future and signals that more people are starting to invest in it. Meanwhile, Ethereum’s ETF recorded modest inflows of $2.4 million, which only cemented Bitcoin’s dominance even more.

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Source: Chart by CryptoRover

The recent interest rate cut by the Federal Reserve has also affected market sentiment in the prevailing period. A lower rate is usually less costly to obtain credit and enhances liquidity and therefore has an inflow on investments. But, it is expected that the rates will continue to remain constant till the end of 2025 which has reduced the chances of getting more economic packages in the near future.

Mixed Market Sentiments

Another layer of the speculation is the potential impacts of Donald Trump on the BTC if he returns to power. Rover anticipates that he can support the idea of US Bitcoin reserve which will be a big boost for the cryptocurrency. However, this would be very challenging legislatively, and it is still theoretically possible.

At the moment, the dynamics of BTC look similar to the consolidation phases of 2023. The cryptocurrency has been testing and rebounding off crucial support levels, which hints at a big breakout in the offing. There is a lot of interest in a breakout, which may signal a major advance or decline.

While the long-term outlook of the BTC is somewhat uncertain, we can now say that the outlook is rather mixed. However, the current bearish signals cannot be overlooked, however, institutions, past trends and fourth quarter expectations are positive. Trader and investors are waiting, anticipating the next major movement of BTC.

Bitcoin’s Next Big Move: Fed Rate Cuts and ETF Growth Drive Market

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  • Bitcoin faces consolidation after recent rise, with over $333M in long trader liquidations signaling a tight range ahead.
  • Volatility in BTC expected to increase with central banks set to announce major interest rate decisions.
  • Institutional interest surges as BlackRock’s Bitcoin ETF nearly doubles its Gold ETF’s AUM in under a year, boosting Bitcoin’s appeal.

The value of Bitcoin has been rising again in the recent past, though, the pace is gradually decelerating. While altcoins seem to be on the verge of breaking out, Bitcoin seems to be ranging. The past day was particularly unkind to long traders, who faced massive liquidations exceeding $333 million. This means that BTC may be trading in a tight range in the near future until the market sees the next big move upward.

Bitcoin Faces Increased Volatility

In the next few days, Bitcoin will remain quite volatile. Interest rate decisions from the central banks of three of the world’s largest economies will be announced. Today, the Federal Reserve is likely to come up with the final FOMC data for the year 2024. The market is expecting a 25 basis points reduction to 4.50% due to the continued moderation of inflation.

Ali Martinez posted and shared his thoughts on X about BTC prices. He said that the price movements of Bitcoin in 2017 and 2020 might be a good reference for the future. BTC could undergo some retracement once it reaches certain price levels. He believes there will be a minor consolidation at $110,000, a stronger one at $125,000 and a major correction at $150,000. According to Ali, if the bull market were to end, it might do so at $220,000 in 2025.

At the moment, BTC is worth $104,789. This slight fall occurs as markets await the decision of the U.S. Federal Reserve on the interest rates. Most observers are keen on finding out how the Fed’s decision may impact the future path of BTC.

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Source: TradingView

BlackRock ETF Growth Surges

At the same time, the founder of CryptoQuant Ki Young Ju noted an increase in institutional investments in BTC. He pointed out that BlackRock’s Bitcoin spot ETF has already grown the assets under management to almost twice those of the Gold ETF in less than a year. This underlines the fact that cryptocurrency is increasingly drawing the attention of mainstream investors who could help prop up its future appreciation.

While BTC finds its footing, investors and traders are monitoring the Fed and new trends in the crypto space. However, there could be more volatility in the short-term prices of cryptocurrency but long-term growth cannot be ruled out. As institutional investors pour money into BTC and the global economy changes, Bitcoin’s next move may propel or hinder the entire cryptocurrency market.

XRP’s Path to $27: Key Fibonacci Breakouts Set Stage for Explosive Rally

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  • XRP breaks key Fibonacci levels, signaling potential for a massive surge, with $27 as a possible target.
  • Monthly, weekly, and daily timeframes show strong support, suggesting XRP is poised for continued growth.
  • If XRP holds above crucial Fibonacci levels, the path to rapid growth and higher prices becomes clear.

Ripple’s XRP has managed to regain its momentum and the bullish sentiment is still strong among the traders. In the recent X post, Egrag Crypto pointed out that XRP is gearing up for a massive surge and may even hit $27. The analysis presents several Fibonacci levels which have been broken recently by the cryptocurrency and opens the way to a rapid growth. 

Key Levels for XRP Growth

The analysis covers five important timeframes for XRP’s price action: These are monthly, weekly, three days, daily, and short term (8 and 2 hours). In the outlook, the Fibonacci Channel Chart is shown, and the traders are given a clear direction as to the levels of interest. Fibonacci channels are quite effective at marking significant levels of support and resistance, reversal points as well as the probable targets for price. 

From the one-month chart, XRP has broken through the $0.75 levels that were chosen as a vital level of price increase. The cryptocurrency has now breached through the Fib Channel 0.236, a key resistance level that shows further positive price action. If the monthly candle closes above this level, it would be favorable to see Ripple token continuing its climb higher. 

The next major target on the radar is the Fib Channel 0.382 which is considered as a strong resistance level. If coin is able to close above the 0.236 level on the monthly chart then the path to this next target could be open and this will signal a buy signal. As of writing, token is trading at $2.52, down by 5.65% over the past day.

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XRP’s Bullish Momentum

On the weekly and daily timeframes, Ripple token still has positive characteristics. The support levels in these timeframes suggest that token can continue the momentum it has gained in the past few days. The 8-hour and 2-hour charts are also pointing to the positive price action and this mean that coin has all it takes to move higher.

As these critical Fibonacci levels are in place, the possibilities for the growth of token are being revealed. If the cryptocurrency can hold above some crucial levels, the next move could be very strong, and $27 could be in sights. The following weeks will be decisive to establish whether this bullish behavior will remain or not as traders will carefully observe XRP’s behavior in these time frames.

Hong Kong Leads Global Crypto Tax Transparency with New Framework: Report

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  • Hong Kong to require annual crypto asset reporting for tax purposes, aiming to combat cross-border tax evasion.
  • New framework to be based on 2018 financial information exchange, focusing on digital assets for tax compliance.
  • Hong Kong plans full crypto reporting by 2026, fostering global tax cooperation and strengthening financial governance.

Hong Kong plans to implement a new regime that would make it mandatory for individuals and business to report their crypto assets for taxation purposes. The announcement was made on December 13, during the meeting of the Organization for Economic Co-operation and Development (OECD) Global Forum on Transparency and Effective Exchange of Information in Tax Matters. The framework is expected to help in the recovery of taxes on virtual currencies, thus fighting cross border tax evasion.

Tax paying residents of Hong Kong will be obliged to submit their cryptocurrency ownership and trading information once per year under the new regulation. This will be a continuation of the measure that the region has been taking to enhance on the tax compliance. The framework will be based on the Automatic Exchange of Financial Account Information in Tax Matters that has been implemented in Hong Kong since 2018 and will fully concern digital assets.

Crypto Reporting Framework Timeline

The government is looking to have the new crypto reporting framework completed by 2026, and then put into action by 2028. Once implemented, data retrieved from these reports will be disclosed to the international tax authorities and therefore foster international tax cooperation. This data exchange is intended for identifying possible cases of tax avoidance as well as to meet international standards of taxation.

According to Christopher Hui, the Secretary for Financial Services and the Treasury, this framework fits well into Hong Kong’s continuous measures to enhance international tax cooperation and compliance. He said that the additional reporting standards will further strengthen Hong Kong’s position as an international financial hub and a supporter of responsible tax jurisdictions.

Global Taxation of Digital Assets

Since 2018, Hong Kong has shared financial account information with partner jurisdictions every year, thus supporting the fight against tax evasion. Expanding the foundation with Crypto Asset Reporting, digital asset transactions are required to be altered to meet the same standards as fiat transactions.

The Hong Kong government added that consultations with stakeholders such as the industry players and the public will be made to arrive at the necessary legislative changes. The following will benefit from this consultation process to ensure that the regulations are correct and all stakeholders are considered.

With the taxation of virtual currencies being a relatively new area, countries around the world are rushing to adapt their laws to this new form of income, and Hong Kong’s desire to establish a transparent and clear approach to reporting standards shows that other jurisdictions should follow. Such an approach proves the city’s desire to stay the numero uno in terms of international financial governance and digital assets regulation.

Bitcoin’s Bullish Surge: Will the Santa Claus Rally Push BTC to $123K?

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  • Bitcoin’s bullish momentum could continue as the “Santa Claus rally” history suggests major price movements in the coming weeks.
  • BTC has broken key resistance levels, with $123,000 as the next big hurdle, signaling strong potential for upward movement.
  • Institutional interest in BTC continues to grow, as more funds pour into the Spot Bitcoin ETF, strengthening BTC’s market dominance.

The price of Bitcoin has been bullish in the recent past and there are many people who are of the view that the price of BTC is going to shoot up before the end of the year. In a recent YouTube video, Crypto Rover pointed out that throughout history, every bull market during the famous ‘Santa Claus rally’ has led to substantial Bitcoin price movement. This year, everyone is waiting for the same pattern from BTC, and signs are showing that the same thing can happen again.

Bitcoin Breaks Key Resistance

In recent days, Bitcoin has managed to spike above an important level of resistance. Within the short term, for instance, in the 1-hour chart, Bitcoin formed a rising wedge. The price bar broke through the resistance level, but bounced back from a very important support level, which is another sign of the upward movement. The cryptocurrency is now on its way towards the subsequent big hurdle at $123,000. Achievement of this level would be a big achievement for the cryptocurrency as it would be reaching a new frontier.

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Source: Chart by CryptoRover

When analyzing the price trends of Bitcoin recently, there is a clear sign that the price will continue rising even higher. The price of Bitcoin has been trending sideways and fluctuating between two well-defined levels of support and resistance. The Fibonacci extension reveals that BTC has just recaptured the 1.618 level and is likely to head higher from here. The subsequent significant level of resistance for cryptocurrency could be at $123,000.

The Santa Claus rally will play a big role in the BTC price. In the last few years, particularly in 2016 and 2020, Bitcoin has been soaring during this time. The popularity and media coverage of Bitcoin is set to rise as the holiday season commences, and this festive mood purchasing power may very well drive the price of BTC even higher.

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Source: Chart by CryptoRover

The first of the strongest signals is a bullish crossover on the daily chart of cryptocurrency. This crossover has historically resulted in high price hikes such as a 55% rise last time. At these prices, this indicator indicates that the market may see a similar bump, and could push Bitcoin to $140k or even $180k in the next few months. At the time of writing, BTC is at $107,208 with a 24 hour price change of 2.41%.

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Source: TradingView

Institutional Bitcoin Investment Growth

Besides technicals, there is increasing institutional participation in cryptocurrency. The Spot Bitcoin ETF has been getting more inflows of capital, with big funds still buying coin. The fact that this trend is positive is a good sign that institutional investors are gradually going big on token. This is in light of the current rise in the BTC dominance which continues to show that BTC is the market leader.

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Source: CryptoRover

While cryptocurrency is looking quite bullish, the rest of the market is not quite enjoying the same gains. The market has seen that token has been on the rise, while alts have struggled to keep up with the growth. Nevertheless, this might not be the case for long because history has it that the other altcoins tend to mimic the action of Bitcoin in the last phase of a given bull run. Other major cryptocurrencies such as Ethereum too could see a massive surge once BTC attains stability.

Bitcoin has several bullish trends that are still valid even today. The historical patterns, the technical analysis, and the institutional participation suggest there is more room for growth. With cryptocurrency moving closer to certain levels of resistance, investors are eager to see if the digital currency will be able to push through to new heights. This year’s Santa Claus rally could propel BTC price further, so the next few weeks are critical for the crypto market.

Bitcoin (BTC) Bulls Eyeing $130K: Will It Reach New All-Time Highs?

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  • The $102,000 resistance level is critical for Bitcoin, with a potential breakout pushing the price toward $120,000 and higher.
  • A compression pattern on the 1-hour chart indicates Bitcoin could break out soon, with $120,000 as a key target for further gains.
  • Following a CME gap at $111,000, Bitcoin might experience a brief pullback before resuming its upward momentum, based on historical trends.

Bitcoin (BTC) is currently trading at around $102,000 and this has created varied emotions within the market. The crypto community is split between those who think that the bull market is over and those who think that Bitcoin has huge potential.

In a recent YouTube video, Crypto Rover pointed out that the BTC has peaked around 275 days after each halving, so there might still be plenty of time left in this bull market. As the year comes to an end, BTC traders and investors watch the current strengths and weaknesses in an effort to predict the next big shift. 

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Source: Chart by Crypto Rover

Bitcoin’s immediate barrier is at the $102,000 level, a crucial Fibonacci extension point. The price of BTC has again been rejected at this level severally but Rover thinks that once the price breaks this level, then a rally could occur. As Bitcoin pressed against the $102k level, many market participants are preparing for price growth. The following primary barrier is $120,000, and if this level is violated, it is probable that BTC will continue to rise to the next level at $130,000.

Key Levels for Bitcoin Breakout

In the short-term, BTC is in a compression pattern in the 1-hour chart with support line that is ascending and a resistance line that is descending. Such a scenario will create a breakout once the price of BTC crosses these levels which will define the next direction. A move above $120,000 would indicate that BTC is shifting to the next leg of its upward trend while failure to defend important levels may result in a correction.

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Source: Chart by Crypto Rover

The other thing to watch is the current position of Bitcoin regarding the CME gap observed earlier this week. Bitcoin has reclaimed the gap at $111,000, which has been a traditional region that has seen sell-offs. Many traders believe that as the weekend goes on, BTC may come back to close the gap before heading higher next week. Historically, such gaps have been filled 90% of the time, meaning that BTC may retrace a little before moving up.

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Source: Chart by Crypto Rover

From a wider perspective, the prices of the digital currency have been showing steady progression in the upward trend. A bullish crossover at the MACD indicator indicates that the momentum will be sustained in the following year, 2024. Also, the overall market is led by BTC while the altcoins, especially the rest of the coins, make slower movements.  

Long-Term Bitcoin Outlook

In the long term, the BTC is still one of the most promising assets in the financial world. According to analysts, Bitcoin has undergone the usual cycle of trading that indicates it may hit new highs in the next few months with $120,000 and $130,000 as its next targets. At the current stage, as cryptocurrency is holding above critical support levels, the probability of a rapid decline is not high and even in case of negative developments on other assets, the price of BTC remains stable.

Bitcoin is in a crucial zone at the moment with significant barriers at $102,000 and $120,000. However, if the price breaks out above these levels, this could be the beginning of a new movement that could take the BTC price to new all-time highs.