Bitcoin futures remain range-bound as we head into the holiday season, trading between $92,000 (support) and $98,000 (resistance). While the crypto community often speculates about a "Santa rally," recent developments in broader financial markets suggest caution. The pullback in the stock market, which began after the FOMC meeting on December 19, could weigh on sentiment in the crypto market, lowering the chances of a holiday rally.
Market sentiment and key levels to watch ?
Key levels provide much-needed structure in this unpredictable environment:
Support at $92,000: A break below this level could trigger further downside, signaling that sellers remain firmly in control.Resistance at $98,000: A breakout above this level would likely attract buying interest and potentially spark a rally toward the psychological milestone of $100,000.Crypto bottom line for Christmas: how to look at the holiday uncertainty ?
Without any significant move made by the crypto king, it is unlikely to expect any special action from alt coins.
Whether Bitcoin moves up or down, $92,000 and $98,000 provide critical guidance for interpreting the next steps in this volatile market. Traders are encouraged to watch volume, price action, and the VWAP at $95,000 for confirmation of a move. Patience and disciplined risk management will be key during this holiday period. Always invest in crypto and/or trade BTC at your own risk only.
This article was written by Itai Levitan at www.forexlive.com. Read More Details
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