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Divergence

<p>Market analysts have been talking a lot about <a href="https://captainaltcoin.com/expert-analyst-predicts-bitcoin-btc-price-could-hit-120k-this-week-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s surge</a> to new highs, lately though, some predict a possible pullback. Two top analysts, Captain Faibik and Crypto Patel, note that even if the trend is still strong, traders may be able to reposition themselves incase of a pullback.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-s-bearish-divergence-signals-weakening-momentum-strong"><strong>Bitcoin’s Bearish Divergence Signals Weakening Momentum</strong></h2>
<p>Captain Faibik has identified a bearish divergence on Bitcoin’s daily chart.&nbsp;</p>
<p>The divergence occurs when the price makes higher highs, but the RSI registers lower highs, a sign that upward momentum may be losing steam. The RSI, now at 63.47, has broken a key support level, underscoring this trend.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> Massive Bearish Divergence on the Daily timeframe Chart..!!<br><br>Expecting 8-10% Correction which would be a Healthy Reset, then continue to Rally.. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Don't miss the Buying Opportunity..<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/270d.png" alt="✍" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://twitter.com/hashtag/BTCUSDT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTCUSDT</a> <a href="https://t.co/NTMftr4PFh" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/NTMftr4PFh</a></p>— Captain Faibik <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f43a.png" alt="🐺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1869257359601655989?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 18, 2024</a>
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<p>The analyst predicts an 8-10% correction, which would bring Bitcoin’s price to the $94,000 level. This zone corresponds with prior consolidation levels and is viewed as a strong support area.&nbsp;</p>
<p>Faibik describes this potential dip as a “healthy reset,” suggesting that it could pave the way for the next leg of Bitcoin’s rally.</p>
<h2 class="wp-block-heading" id="strong-btc-analysis-points-to-possible-retracement-strong"><strong>BTC Analysis Points to Possible Retracement</strong></h2>
<p>In another perspective, Crypto Patel’s Elliott Wave analysis highlights the formation of an Expanding Diagonal (ED) in Bitcoin’s Wave 3.&nbsp; This pattern often signals a <a href="https://www.barrons.com/livecoverage/stock-market-today-121824/card/bitcoin-eases-after-hitting-record-high-K5ohOrHOrBUTyOKxeuk2" target="_blank" rel="noopener noreferrer nofollow">looming correction</a>.&nbsp;</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="518" src="https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-1024x518.jpeg" alt="" class="wp-image-602278" srcset="https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-1024x518.jpeg 1024w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-300x152.jpeg 300w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-768x388.jpeg 768w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-1536x776.jpeg 1536w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-2048x1035.jpeg 2048w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-297x150.jpeg 297w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-100x51.jpeg 100w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-692x350.jpeg 692w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1-788x398.jpeg 788w, https://captainaltcoin.com/wp-content/uploads/2024/12/GfDP3yAbcAAlIeE-1.jpeg 1199w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Source: </em></strong><a href="https://x.com/CryptoPatel/status/1869238409908326566" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Crypto Patel</em></strong></a>
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<p>Patel notes that the shallow nature of Wave 2 suggests caution for traders entering long positions at current levels. Moreover, Patel outlines a scalp short setup with an entry range between $106,000 and $108,000.&nbsp;</p>
<p>His price targets include $90,048 (0.382 Fibonacci) and $85,063 (0.5 Fibonacci), with a stop-loss set at a four-hour close above the recent all-time high. While <a href="https://captainaltcoin.com/expert-disregards-this-strong-bitcoin-btc-bearish-signal-insists-200k-remains-target-heres-why/" target="_blank" rel="noopener noreferrer nofollow">bullish momentum</a> remains, the analyst advises tight risk management and patience for clearer correction signals before committing to long trades.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-ripple-xrp-price-could-reach-10-this-bull-run/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Ripple (XRP) Price Could Reach $10 This Bull Run</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-key-support-and-resistance-levels-in-focus-strong"><strong>Key Support and Resistance Levels in Focus</strong></h2>
<p>Both analysts emphasize the importance of watching support and resistance levels. Captain Faibik identifies $94,000 as a crucial support zone, with Crypto Patel highlighting Fibonacci retracement levels as potential markers during a pullback.</p>
<p>Despite the potential of a short-term decline, both analysts maintain a long-term bullish outlook for Bitcoin. They see this correction as an opportunity to accumulate and be set to capitalize on future gains.</p>
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<p>The post <a href="https://captainaltcoin.com/is-bitcoin-btc-price-correction-imminent-experts-analysis/" rel="noopener noreferrer nofollow">Is Bitcoin (BTC) Price Correction Imminent? Experts’ Analysis</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is Bitcoin (BTC) Price Correction Imminent? Experts’ Analysis

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