Bitcoin On A Rebound? Here Are Key Levels To Watch

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	54,367,051,806	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

54,367,051,806

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.02374	-5.99%	0.37236	0.3724	0.37249

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.02374

-5.99%

0.37236

0.3724

0.37249

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.40963	0.35822	0.3966	0.3961	0.074740 - 0.484640

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.40963

0.35822

0.3966

0.3961

0.074740 - 0.484640

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	22:29:42	92.70	0.37236	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

22:29:42

92.70

0.37236

USD

Price x Volume	Volume	Base Symbol	Related Pairs
367,122,947.23	954,046,891.79	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

367,122,947.23

954,046,891.79

Bitcoin On A Rebound? Here Are Key Levels To Watch

29/12/2024 6:30pm

NEWSBTC

In an exciting development, Bitcoin may finally be undergoing a market rebound according to a recent prediction by crypto analyst Ali Martinez. However, the premier cryptocurrency finds itself in a critical price zone, which holds significant implications for both bullish and bearish market outcomes. Related Reading: Galaxy Research Reveals Bitcoin, Ether And Dogecoin Price Projections In 2025 Crypto Forecast Bitcoin Must Stay Above $93,400 To Retain Bullish Drive In an X video post on December 28, Martinez stated that Bitcoin may be preparing for a price recovery according to certain market indicators. Firstly, the analyst stated BTC was forming a bullish divergence against its relative strength index, This is a classic bullish signal that indicates weakening downward momentum and a potential price reversal is on the horizon. Furthermore, there are 14 million worth of potential liquidations at $95,300. Martinez believed that market makers would target this price zone which represents a significant concentration of leveraged trading positions. Market makers often attempt to eliminate these leveraged positions leading to an increased market liquidity and volatility, on which they can capitalize to make trades at favorable prices. Another market development that supports Bitcoin’s potential rebound is an increase in long traders on the Binance exchange from 53.12% to 64.04%. This indicates that more Binance traders, who Martinez claims have a solid track record, are predicting Bitcoin to soon experience a price rise. Since Martinez’s video post, Bitcoin has moved above $94,800, which the analyst described as a key resistance level to the projected rebound. Bitcoin is now expected to rise further to $95,600 with a potential to trade as high as $98,373 in the short term. However, the market expert cautions that Bitcoin is at a crucial juncture, with any drop below the key support level of $93,400 likely to spark a further decline to $84,000 or even $70,000. This would represent a potential 25% drop from its current price. Related Reading: Crypto Market Remains Greedy Despite Bitcoin Price Crash To $94,000, Is A Recovery Coming? BTC Price Overview At press time, Bitcoin trades at $95,173 following a price gain of 0.93% in the last 24 hours. Meanwhile, the asset’s trading volume is down by 53.76% and is now valued at $24.76 billion. The premier cryptocurrency has experienced a rather bearish end to 2024 but market optimism remains rather high. Analysts have continuously described 20-30% corrections as part of the bull market setting the stage for stronger price rallies. With 2025 fast approaching, a price surge above the $100,000 resistance remains key to inducing another uptrend with lofty projected targets as high as $350,000 in the new year. Featured image from Shutterstock, chart from Tradingview.com

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

DOGEUSD Dogecoin