Between seller pressure and signs of a "imminent rebound"
Bitcoin is currently undergoing a "strong test" phase, where purchasing power temporarily weakens while the price remains below the moving average (SMA 50). This consolidation places the currency in a technically downward path in the short term, although the picture is not entirely negative.
đ A look at the indicators
Despite the price decline, the Relative Strength Index (RSI) sends optimistic signals; as it forms a "positive crossover" indicating the exhaustion of selling forces. This divergence suggests that we may be in the process of building a price base in preparation for a trend reversal.
đ Expected scenarios
Trading is now in the "deciding zone" that requires monitoring pivotal levels:
Resistance (89170.78): It is the "gateway"; breaking this level and holding above it means the bulls regain control and return to an upward trend.
Support (85510.05): It is the "last line of defense"; breaking this level with a clear close may push the price towards deeper corrective levels.
In summary: The market is in a state of heightened anticipation. The downward momentum has started to lose its acceleration, which puts Bitcoin in two options: either to hold above support to launch a corrective wave, or to succumb to selling pressure and expand the downward range.
I hope to break the resistance and rise, which is the most likely scenario to occur
But we are waiting for the end of the holiday period and the new year
Happy New Year to you all
Do not forget that trading risks and entering and exiting trades are solely your responsibility
#BTC #fibonachi #BTC90kChristmas
