{"id":2206,"date":"2024-12-28T19:13:08","date_gmt":"2024-12-28T19:13:08","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/is-bitcoin-ending-2024-on-a-high-note-analysts-say-this-level-is-key\/"},"modified":"2024-12-28T19:13:08","modified_gmt":"2024-12-28T19:13:08","slug":"is-bitcoin-ending-2024-on-a-high-note-analysts-say-this-level-is-key","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/is-bitcoin-ending-2024-on-a-high-note-analysts-say-this-level-is-key\/","title":{"rendered":"Is Bitcoin Ending 2024 On A High Note? Analysts Say This Level Is Key"},"content":{"rendered":"

As Bitcoin (BTC) continues to move sideways, investors wonder whether the flagship crypto will end the year positively or on a sour note. Some analysts suggest a close above recently lost levels could propel BTC\u2019s price to new highs.<\/p>\n

Bitcoin’s Red Week, Green Year<\/h2>\n

Since breaking past the long-awaited $100,000 barrier in early December, Bitcoin has seen two significant corrections to the lower zone of its one-month range. Throughout the month, the flagship crypto\u2019s price has traded between $90,000 and $108,000, hovering between $96,000 and $102,000 for most of December.<\/p>\n

However, since reaching its latest all-time high (ATH) of $108,353 ten days ago, Bitcoin has lost the $100,000 support zone, falling to its lowest price in weeks. Over the past week, BTC has struggled to reclaim the $98,000 support zone, losing its Christmas retest above this level on Thursday.<\/p>\n

Now, the largest crypto by market capitalization moves within the mid-zone of its monthly range, displaying a candle that \u201cdoesn’t look great but also not the worst. Neutral, and still a few more days to go,\u201d as Altcoin Sherpa stated.<\/p>\n

The analyst suggested<\/a> that Bitcoin could see \u201csome weird price action over the next few weeks with despair followed by an absolute moon mission and killer alt season.\u201d<\/p>\n

Meanwhile, Daan Crypto Trades called<\/a> BTC\u2019s current price action the \u201cend of the year chop.\u201d He noted that as Bitcoin moves sideways, liquidity is \u201cbuilding on both sides,\u201d with an area of interest below $94,000 and a key level above the $100,000 mark.<\/p>\n

Some investors asked the community to zoom out on BTC\u2019s chart, highlighting that the cryptocurrency remains within a historical range despite the horizontal trajectory. If Bitcoin were to end the year at its current price, it would still record a 48.15% return in Q4 and a 122% increase in the yearly timeframe.<\/p>\n

Bitcoin Risks Fall To One-Month Lows<\/h2>\n

Analyst Carl Runefelt considers<\/a> that investors should watch the $92,500 support zone, as breaking below that horizontal level could send BTC\u2019s price to $86,000. Similarly, Ali Martinez warned investors about a key level for BTC.<\/p>\n

Martinez asserted<\/a> that investors \u201cdon\u2019t want Bitcoin to dip below $92,730,\u201d explaining that it is \u201cessentially free fall territory\u201d if the flagship crypto loses that level. 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.<\/p>\n

In a previous post, he explored a bearish outlook where BTC could fall as low as $60,000, noting that several experts forecasted a correction anywhere from 23% to 36% for BTC.<\/p>\n

Martinez considers a 25% crash to the $70,000 mark possible, as the URPD chart shows minimal support below the $93,806 and $92,730 zones. \u201cIf this critical demand area doesn’t hold, we could see a sharp drop to $70,085,\u201d he warned.<\/p>\n

He also pointed out that Bitcoin broke below one of its \u201cmost significant support zones at $97,300,\u201d which suggests a bearish outlook while it isn\u2019t reclaimed.<\/p>\n

However, the analyst asserted<\/a> that this outlook would be invalidated if BTC has \u201ca sustained close above $97,300 and, more critically, a daily close above $100,000.\u201d Martinez added that reclaiming these levels could start the next leg toward the $168,000 target.<\/p>\n

As of this writing, Bitcoin is trading at $94,587, a 1.24% decrease in the daily timeframe.<\/p>\n

\"bitcoin,<\/p>\n","protected":false},"excerpt":{"rendered":"

As Bitcoin (BTC) continues to move sideways, investors wonder whether the flagship crypto will end the year positively or on a sour note. Some analysts suggest a close above recently lost levels could propel BTC\u2019s price to new highs. Bitcoin’s Red Week, Green Year Since breaking past the long-awaited $100,000 barrier in early December, Bitcoin…<\/p>\n","protected":false},"author":1,"featured_media":2207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119],"tags":[56,377,1358,61,121,62,42,713,85,725,281],"class_list":["post-2206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-bullish","tag-bitcoin-forecasts","tag-btc","tag-btc-price","tag-btcusdt","tag-crypto-analyst","tag-crypto-bull-run-2025","tag-crypto-market","tag-crypto-market-correction","tag-crypto-trader"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/2206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=2206"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/2206\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/2207"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=2206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=2206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=2206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}