Bitcoin BTC/USD ends the trading week at the level of 97047 and continues to move within the development of growth and a bullish channel. Moving averages indicate the presence of an upward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset buyers and a potential continuation of the growth of asset quotes. At the moment, we should expect an attempt to develop a bearish correction in the coin price and a test of the support area near the level of 90405. From where we should again expect an upward rebound and continued growth of the Bitcoin rate with a potential target above the level of 120505.
Bitcoin Forecast and Analysis December 2 — 6, 2024
An additional signal in favor of the growth of BTC/USD quotes in the current trading week of December 2 — 6, 2024 will be a rebound from the lower border of the bullish channel. The second signal will be a rebound from the support line on the relative strength indicator (RSI). The Bitcoin fall option can be cancelled if it falls and breaks through the 80505 area. This will indicate a breakout of the support area and a continuation of the BTC/USD quotes fall with a potential target below 72665. The development of the bullish movement will be confirmed by a breakout of the resistance area and closing of quotes above 104065.
Bitcoin Forecast and Analysis December 2 — 6, 2024 suggests an attempt to reach the support area near the 90405 level. Then, the cryptocurrency will continue to grow to the area above 120505. An additional signal in favor of the Bitcoin rate rise this trading week will be a test of the trend line on the relative strength indicator. The Bitcoin cryptocurrency quotes growth option can be cancelled if it falls and breaks through the 80505 area. In this case, we should expect a continuation of the decline with a target at 72665.
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