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Bitcoin (BTC) Price Prediction for December 28: Market in a Holding Pattern
As we approach the end of the week, it appears that the cryptocurrency market is stuck in a holding pattern. The price of Bitcoin (BTC), which was trading at $94,544 at press time, has not shown any significant movement in recent days.
On a shorter time frame, there are some potential signs of weakness. If buyers fail to hold the interim area of $95,000, it’s possible that we could see a test of the nearest support level at $92,092. This would be a crucial area for bulls to defend, as it could mark a turning point in the market’s sentiment.
However, if the price manages to stay above this key level, there is still a possibility of an ongoing decline. It’s worth noting that there are no reversal signals on the bigger time frames yet, suggesting that the bearish trend may continue in the near term.
If the $92,000 level does break down, it could lead to further selling pressure and potentially test the $90,000 range shortly. In this scenario, investors would be wise to remain cautious and re-evaluate their positions.
For now, it’s essential for traders to closely monitor market developments and stay flexible in their approach.
Source: u.today
