On December 30, 2024, the price of Bitcoin (BTC) reached $91,500, but buyers tried to prevent the price candle from closing below the neckline of the head and shoulders pattern in the 2024 daily chart. Analysts suggest that confirming this pattern could target a price range between $76,000 to $80,000. In the current market conditions, various analysts emphasize the importance of maintaining the $94,000 level for Bitcoin to stay within the current range of $92,000 to $100,000. Bitcoin’s price increased to $96,250 on December 31, indicating efforts to maintain this level. According to Aksel Kibar, a technical analyst, the $100,000 level is a pattern-breaking point. If the price surpasses this level, the head and shoulders pattern will be invalidated. However, sellers and short position holders still control Bitcoin’s price. Data from the TRDR.io site show that spot sales dominate in most exchanges, and the price increase in the past 24 hours is mostly related to futures transactions. Similar to last week’s trend, any price increase during the day is halted by sellers, while buying offers attract at key support levels. The increase in buying volume in the futures market indicates that margin buyers are entering positions at the lower end of Bitcoin’s price range ($91,000 to $93,000). According to Skew, a well-known trader, Bitcoin’s price is trapped in a range with low liquidity, so he advises traders to pay attention to liquidity in buying and selling in the coming days. To maintain the current situation, the best scenario is for the Bitcoin price candle to close in the range of $94,000 to $94,500 and then traders to strive to reach the $98,800 level. You can view the prices of all tokens and cryptocurrencies live and in real-time on the real-time digital currencies page.
