Is Bitcoin Ending 2024 On A High Note? Analysts Say This Level Is Key

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Is Bitcoin Ending 2024 On A High Note? Analysts Say This Level Is Key - NewsBTC

Quick Summary:

The analyst suggested that Bitcoin could see "some weird price action over the next few weeks with despair followed by an absolute moon mission and killer alt season.” Meanwhile, Daan Crypto Trades called BTC’s current price action the "end of the year chop.” He noted that as Bitcoin moves sideways, liquidity is "building on both sides,” with an area of interest below $94,000 and a key level above the $100,000 mark.

Bitcoin Risks Fall To One-Month Lows Analyst Carl Runefelt considers that investors should watch the $92,500 support zone, as breaking below that horizontal level could send BTC’s price to $86,000.

According to the analyst, the flagship crypto could fall as low as $70,000 if it loses the key support zone based on the UTXO Realized Price Distribution (URPD) chart.