{"id":30494,"date":"2024-12-16T11:18:06","date_gmt":"2024-12-16T11:18:06","guid":{"rendered":"https:\/\/zebpay.com\/in\/?p=30494"},"modified":"2024-12-16T11:18:07","modified_gmt":"2024-12-16T11:18:07","slug":"bitcoin-technical-analysis-report-16th-december-2024","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/bitcoin-technical-analysis-report-16th-december-2024","title":{"rendered":"Bitcoin Technical Analysis Report | 16th December 2024"},"content":{"rendered":"\n

Bitcoin has rebounded strongly from its weekly lows and is steadily advancing toward its all-time high of $104,088. Analysts project that the current crypto bull market will likely reach its first peak in Q1 2025. A recovery phase is anticipated to start by the fall, with major tokens expected to regain momentum and potentially reclaim their previous all-time highs by year-end. One concern, however, is the relative strength index (RSI), which is showing a negative divergence\u2014an early signal of waning bullish momentum.<\/p>\n\n\n\n

At the time of writing, BTC was trading at $104,790.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

BTC broke the psychological resistance level of $100,000 on 5th December and rallied up to $104,088. The asset made a \u2018Spinning Top\u2019 candle that indicated indecision. Post this move, BTC started to consolidate between $94,500 to $102,500 with declining volumes. It has given a breakout above the range and made a new all-time high of $106,648 but with low volumes. To witness further rally, BTC needs to close and sustain above $104,000.

Key Levels:<\/strong><\/p>\n\n\n\n

Support 2<\/strong><\/td>Support 1<\/strong><\/td>Asset<\/strong><\/td><\/td>Resistance 1<\/strong><\/td>Resistance 2.<\/strong><\/td><\/tr>
$85,000<\/td>$92,000<\/td>BTC<\/strong><\/td><\/td>$105,000<\/td>$120,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

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Bitcoin has rebounded strongly from its weekly lows and is steadily advancing toward its all-time high of $104,088. Analysts project that the current crypto bull market will likely reach its first peak in Q1 2025. A recovery phase is anticipated to start by the fall, with major tokens expected to regain momentum and potentially reclaim […]<\/p>\n","protected":false},"author":1,"featured_media":29949,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[26],"tags":[310,16],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/30494"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=30494"}],"version-history":[{"count":1,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/30494\/revisions"}],"predecessor-version":[{"id":30497,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/30494\/revisions\/30497"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/29949"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=30494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=30494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=30494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}