Bitcoin’s price dropped below $94,000 on Dec. 29, down 1.29% in 24 hours and 2.67% over the week, according to CoinMarketCap. Following its $108,000 all-time high on Dec. 17, BTC is consolidating between $92,000 and $99,000, trading below its 20-day EMA and nearing the 50-day EMA.
The RSI of 42 suggests Bitcoin is neither overbought nor oversold, but the Taker-Buy-Sell-Ratio of 0.92 signals bears are in control. Analysts like The ForexX Mindset and Aksel Kibar predict potential pullbacks to $81,500 or $80,000, citing rising USDT dominance and a head-and-shoulders pattern as warning signs.
Despite short-term concerns, Bitcoin remains above its critical 200-day EMA, hinting at continued long-term support.
Source: Cointelegraph
