2024

Bitcoin

Momentum

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<p><a href="https://captainaltcoin.com/is-bitcoin-btc-price-correction-imminent-experts-analysis/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price action</a> lately has interested analysts, as it weathered a broader market downturn with resilience.&nbsp;</p>
<p>Per CoinGecko, Bitcoin (BTC) <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow">traded at $102,246</a>, reflecting a 2.49% decline in the past 24 hours but maintaining a 1.33% weekly gain. This comes amidst a sharp stock market crash, which saw over $1.5 trillion wiped out.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-btc-s-weekly-chart-momentum-shows-signs-of-cooling-strong"><strong>BTC’s Weekly Chart Momentum Shows Signs of Cooling</strong></h2>
<p>Zen, a crypto analyst, observed in a recent post that Bitcoin’s weekly chart momentum has slowed after recording a 62% rally since November.&nbsp;</p>
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin Daily <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> followed bearish momentum and dipped lower to Day 20sma <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> But it wasn't crypto alone – stocks and gold also crashed. Everything moved together.<br><br>Before zooming in lets review higher TF. Month still bullish, while week chart slow down in momentum after… <a href="https://t.co/7PQFmjwtAr" target="_blank" rel="noopener noreferrer nofollow">https://t.co/7PQFmjwtAr</a> <a href="https://t.co/deJTe5Qv0H" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/deJTe5Qv0H</a></p>— Zen (@WiseAnalyze) <a href="https://twitter.com/WiseAnalyze/status/1869690190974886035?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 19, 2024</a>
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<p>The monthly trend, however, remains bullish, suggesting that a potential correction could occur in the coming weeks. Zen noted that this correction could manifest as either a sharp drop or a gradual retracement punctuated by short-term volatility.</p>
<p>The analyst also highlighted two critical price levels. The first is $103,000, which previously acted as support but has since turned into resistance.&nbsp;</p>
<p>The second is Tuesday’s low, which aligns with a daily fair value gap and the developing Year VAH3, signaling the potential for a bearish retest should the <a href="https://cryptopotato.com/bitcoin-price-analysis-btc-risks-facing-extended-retracement-if-it-loses-this-level/" target="_blank" rel="noopener noreferrer nofollow">price approach these levels</a>.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-is-the-crypto-market-down-today-38/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Is the Crypto Market Down Today?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-liquidity-pools-and-short-term-expectations-strong"><strong>Liquidity Pools and Short-Term Expectations</strong></h2>
<p>Zen identified key liquidity pools that traders are monitoring. Above the current price, pools are noted at $102,585, $103,342, $104,100, and $104,855.&nbsp;</p>
<p>Below, they are at $100,694, $100,032, $99,275, and $98,518. These levels are likely to influence short-term price movements, with Bitcoin potentially targeting these pools during rebounds or dips.</p>
<h2 class="wp-block-heading" id="strong-market-sentiment-and-broader-context-strong"><strong>Market Sentiment and Broader Context</strong></h2>
<p>Momin, another crypto analyst, remarked that <a href="https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-forecast-btc-slightly-recovers-after-sharp-sell-off-following-fed-rate-cut-decision-202412191426" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s ability</a> to recover above $102,000 after dipping below the trendline showcased its resilience.&nbsp;</p>
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   <p lang="en" dir="ltr">Some updates on Bitcoin!<br><br>Last night, over $1.5 trillion was wiped from the stock market, yet <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> held strong! <br><br>Followed the plan perfectly—grabbed liquidity from the trend line and went back above $102K+. <br><br>Hoping for some chop here while BTC.D reverses and Alts recover! <a href="https://t.co/eTpV7Mf8xk" target="_blank" rel="noopener noreferrer nofollow">https://t.co/eTpV7Mf8xk</a> <a href="https://t.co/tajtaoHM5m" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/tajtaoHM5m</a></p>— Momin (@mominsaqib) <a href="https://twitter.com/mominsaqib/status/1869699203129029045?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 19, 2024</a>
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<p>He expressed optimism for consolidation while Bitcoin dominance reverses and altcoins stabilize. This period of consolidation could define Bitcoin’s direction soon, especially as broader market movements continue to affect cryptocurrencies, stocks, and gold.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-holds-steady-amid-market-downturn-key-btc-price-levels-to-watch/" rel="noopener noreferrer nofollow">Bitcoin Holds Steady Amid Market Downturn – Key BTC Price Levels to Watch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Holds Steady Amid Market Downturn – Key BTC Price Levels to Watch

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