BTCUSD Struggles To Maintain Momentum After Hitting New All-Time High

Bitcoin (BTCUSD) Faces Setback As Price Consolidates

BTCUSD struggles to maintain momentum after reaching a new all-time high. Bitcoin recently hit $104,080 but has since lost steam, entering a consolidation phase above the $91,180 level. The past three months have seen strong bullish sentiment, with prices surging from the $52,000 zone in October. However, the market now seems to be pausing as buyers face challenges in regaining control for another breakout.

BTCUSD Market Zones

Resistance Zones: $104,080, $99,660
Support Zones: $91,180, $88,000
The consolidation between $91,180 and $99,660 highlights buyer fatigue following an extended bullish run. Despite the slowdown, bulls maintain a slight upper hand, with potential for renewed momentum. However, the lack of strong buying activity suggests the market may require a significant catalyst to resume its upward movement.

The Parabolic SAR (Stop and Reverse) reflects market hesitation, indicating an interruption in the smooth upward trend. Although the Stochastic Oscillator still leans in favor of bulls, it signals weakening momentum, emphasizing the need for increased buying pressure to prevent prolonged consolidation or potential downside.

Bitcoin remains in a consolidation phase but retains a bullish bias due to its recent all-time high. A breakout above $99,660 could ignite another rally, potentially retesting $104,080 or climbing higher. On the other hand, a break below $91,180 might lead to further decline, with $88,000 as the next critical support level.

Market Expectation

On shorter time frames, BTCUSD is accumulating within a tight trading range, suggesting potential breakout conditions. Indicators like the Stochastic Oscillator and Parabolic SAR hint that buyers might attempt to push the price higher if sufficient liquidity enters the market.
Traders should keep an eye on key levels and look for breakout signals in either direction. December may still offer opportunities for bullish activity, bolstered by potential crypto signals driving market momentum.

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