Bitcoin ended 2024 trading in a tight range, with bulls struggling to maintain the $94,000 support amid bearish pressure. On Dec. 31, BTC briefly spiked to $96,250 but fell back to $93,692, as sellers capped rallies and futures-driven buying dominated.
The $94,000 level remains crucial to avoid confirming a bearish head-and-shoulders pattern, which targets a downside of $80,000–$76,000. Chartered market technician Aksel Kibar noted, “$100K is the pattern negation level.”
Traders remain cautious, with BTC described as “stuck in a void between liquidity,” waiting for 2025 to bring clearer market direction.
Source: Cointelegraph
