In the last six months, we have observed cyclical behavior in the price of Bitcoin, where the asset experiences drops at the beginning of the month, followed by a significant rebound. According to this fractal, the current drop is not only completely normal but could be a key point before reaching new all-time highs.
Author: Pablo Dávila S.
Date: December 4, 2024
📊 Technical analysis with current data
Current Bitcoin price (December 4, 2024):
Price: $99,016.81
24-hour volume: $69.43 billion (+5.22%)
Market capitalization: $1.96 trillion (+3.59%)
Market dominance index: Bitcoin leads with 57.96%, well above Ethereum, which stands at 12.54%.
Recent historical behavior (last months):
July 5: Drop followed by a rebound that broke resistances.
August 26: Start of a pullback before a prolonged rise.
September 29 and November 5: New corrections at the beginning of the month, leading to significant bullish movements.
November 25: Bitcoin reached a recent high near $99,000 before pulling back, which fits perfectly with the observed fractal.
Current situation:
Bitcoin is trading at $99,016.81 with a slight drop from the recent high, but maintains strong volume and a bullish market. This pattern suggests thatbetween December 4 and 5 we could see a movement towards $100,000 or even break that key psychological level..
🌟 Why are $100,000 within reach?
Increasing volume: A 5.22% increase in daily volume indicates that buyers are accumulating at key levels.
Market dominance: Bitcoin continues to consolidate its position as the undisputed leader, capturing over 57% of the crypto market.
Fear and greed index: Currently at "Extreme Greed" (81 points), reflecting strong confidence in the bullish market.
🚀 Conclusion
The Bitcoin fractal supports that the current drop is not only expected but is an indication of consolidation before a possible new bullish impulse. All current technical data, from volume to market capitalization, point to Bitcoin being one step away from reaching $100,000 this week.
👉 Important: Although technical analysis suggests a positive trend, always remember to manage risk and diversify your investments. The crypto market is volatile, and every decision should be based on a clear and well-informed strategy.
The wildest market in history keeps surprising us! Will this be the week Bitcoin reaches $100K? Only time will tell! 🚀
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