The Santa rally some were expecting seems to be on vacation this year. Let's look at this bitcoin chart together:
Pitchfork Dynamics: I start with the pitchfork anchored from the major low around December 23-24, suggesting a potential bear flag like formation (even though this is not a confirmed channel, it has been helpful for me in many many cases, test it out...). Although the setup isn't fully confirmed due to insufficient touchpoints, the recent price action beneath the pitchfork channel highlights a continued bearish stance.Conditions for a Bullish Shift: To consider a bullish case, Bitcoin needs to achieve two critical technical milestones:Secure at least one, ideally two consecutive four-hour bar closures above the pitchfork.Surpass the 20 EMA (positioned at 94,731), which currently serves as a formidable barrier.? Bitcoin Price Forecast: Key Levels That Could Act as Turning Points
? Exploring Liquidation Impacts and Leverage in Bitcoin Price Dynamics
Vital Liquidation Thresholds:The 91,350 point is crucial, initiating liquidations for 25x and 100x leveraged positions, which could drive price movements substantially.The 90,835 mark, reflecting November 26's low, could also pivot market behavior.The 89,800 level is noted for its potential to increase 25x leverage liquidations, underscoring its importance as a possible market turning point.As it stands, bears hold the reins in the Bitcoin market. For bulls to make a convincing comeback, breaking back into the pitchfork channel and climbing above the 20 EMA are essential. Without these achievements, the bearish forecast for Bitcoin price is likely to persist, pushing towards lower liquidation levels and testing major support zones.
? Bitcoin Price Insights: What Traders Should Watch For in Upcoming Sessions
Bitcoin traders should remain alert as the market's current setup suggests a continuation of bearish trends, with specific levels acting as both potential targets and zones for reversal. Given the volatile nature of cryptocurrency markets, it is crucial for traders to stay informed and approach with strategic caution.
ForexLive.com for the latest updates, expert analyses, and strategic insights into Bitcoin's price movements. As always, trade wisely and prepare for the swift changes that define the crypto landscape.
This analysis offers a detailed overview of the current state of Bitcoin trading, focusing on crucial technical levels and market behaviors that could influence forthcoming price actions. But remember that all our content on ForexLive.com is always just our opinions and you must always make your own decisions, do your own research and invest and/or trade in bitcoin at your own risk only. Last but not least, have a great 2025!
This article was written by Itai Levitan at www.forexlive.com. Read More Details
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