bullish

Bitcoin

Choppy

Resistance

Daily

<ul class="wp-block-list">
  
 <li>Bitcoin faces strong resistance near $104,700; a retracement to $99,647 support could trigger further downside.</li>   
 <li>Kingpin Crypto expects choppy December price action, advising traders to monitor BTC while exploring opportunities in altcoins.</li>   
 <li>If Bitcoin moves above $104,700, it may set a new all-time high and push toward $106,000, signaling new bullish momentum.</li> 
</ul>   
<p>Bitcoin shows signs of potential retracement following its recent rally to $104,000. Analysts expect price action to remain choppy throughout December, with Bitcoin <a href="https://cryptonewsland.com/bitcoin-drops-to-97k-as-a-samurai-candle-shakes-the-market/" target="_blank" rel="noreferrer noopener">encountering critical supply zones and support levels</a>. A pullback appears likely as BTC tests major resistance areas, prompting market participants to focus on alternative cryptocurrencies for opportunities.</p>   
<p>Kingpin Crypto, a leading market analyst, predicts BTC could face a temporary decline before any upward momentum resumes. Bitcoin recently tested a Daily Supply Zone (HI OB), where strong selling pressure emerged. For the time being, this area and resistance at $104,700 have limited Bitcoin's upward movement. Furthermore, there has been a noticeable rejection in Bitcoin's price activity, suggesting that sellers might still be in charge.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/Kingpincrypto12/status/1865607787084149190 
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</figure>   
<h2 class="wp-block-heading" id="h-critical-levels-to-watch">Critical Levels to Watch</h2>   
<p>The current BTC chart on the 4-hour timeframe reveals key price zones shaping market behavior. Significantly, the Daily Support/Resistance (S/R) at $99,647 is a pivotal level. If Bitcoin closes below this level, it could initiate a deeper retracement toward the lower boundary of the ascending channel.</p>   
<p>Moreover, the Demand Zone (D1 DZ), where strong buying interest was previously observed, lies below current levels. A visit to this zone could provide a <a href="https://cryptonewsland.com/solana-breaks-key-resistance-eyes-new-highs-with-strong-bullish-momentum/" target="_blank" rel="noreferrer noopener">fresh foundation for buyers to regain momentum</a>. However, failure to hold this area may result in further downside, exposing Bitcoin to new bearish risks.</p>   
<h2 class="wp-block-heading" id="h-potential-scenarios-and-market-outlook">Potential Scenarios and Market Outlook</h2>   
<p>Kingpin Crypto outlines two likely scenarios for Bitcoin. The primary outlook suggests a pump into the High Order Block (HI OB) region. Consequently, a sharp rejection from this supply zone may trigger a retracement back to the range low.</p>   
<p>On the contrary, a more <a href="https://x.com/CryptoFaibik/status/1865665440036647112" target="_blank" rel="noreferrer noopener">bullish</a> scenario emerges if BTC closes within the red resistance zone. In this case, Bitcoin could break $104,700, setting a new all-time high (ATH) and potentially pushing toward $106,000.</p>   
<p>Besides, Kingpin Crypto emphasizes that BTC has swept significant Buy-Side Liquidity (BSL). Consequently, the market may now seek Sell-Side Liquidity (SSL) to balance order flow. Traders should monitor price action closely to confirm either scenario.</p> 
<p>The post <a href="https://cryptonewsland.com/choppy-december-ahead-for-bitcoin-as/">Choppy December Ahead for Bitcoin as Analysts Predict Key Resistance Battle</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Choppy December Ahead for Bitcoin as Analysts Predict Key Resistance Battle

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