Bitcoin has been navigating an ascending consolidation phase near its critical $108K resistance level, recently encountering a sharp decline.<\/p>\n
However, strong support zones suggest a potential for a short-term bullish rebound.<\/p>\n
By Shayan<\/a><\/p>\n Bitcoin has undergone an ascending consolidation phase near the $108K resistance region, only to face increased selling pressure and distribution activity from large market participants.<\/p>\n This wave of selling led to a significant 15% decline, with the price finding support around the $90K mark and the middle boundary of a long-standing bullish price channel. These levels represent a critical defense line against further declines.<\/p>\n A rebound from this support could set the stage for a renewed attempt to reclaim the $108K mark. Conversely, a failure to hold it may lead to a deeper correction, with the channel\u2019s lower boundary near $75K serving as the next key level of support.<\/p>\n <\/a>Source: TradingView<\/p>\n On the 4-hour chart, Bitcoin has been consistently trending upward within a multi-month bullish channel. The recent rejection at $108K triggered a sharp decline, bringing the price down to the channel\u2019s middle boundary near $95K, a crucial dynamic support level.<\/p>\n A bounce from this region is anticipated, allowing the price to stabilize and potentially resume its uptrend. However, concerns over a hawkish monetary policy for 2025 may amplify selling pressure, increasing the likelihood of a bearish breakout.<\/p>\n In such a scenario, Bitcoin could face further downside, with $90K as an immediate target and $75K as long-term support.<\/p>\n <\/a>Source: TradingView<\/p>\n By Shayan<\/a><\/p>\n The Bitcoin Long-Term Holder SOPR metric provides valuable insights into market behavior and investor sentiment. Between 2022 and mid-2023, the SOPR remained below 1 for an extended period, indicating that long-term holders were selling at a loss associated with market capitulation.<\/p>\n By mid-2023, the SOPR began trending closer to or above 1, marking the beginning of a recovery. This shift was aligned with a broader market rebound as Bitcoin prices rose, reflecting renewed confidence among investors. The upward trend in SOPR suggested that long-term holders were no longer selling at a loss, a key sign of improving sentiment.<\/p>\n As the market moved into 2024, Bitcoin prices continued to climb, and the SOPR consistently stayed above 1. This shift signified that long-term holders realized profits, but the selling pressure remained controlled.<\/p>\n The stability of the SOPR above 1 highlights sustained confidence among investors, reinforcing that market conditions support continued growth, with a potential for further market expansion.<\/p>\n <\/a>Source: CryptoQuant<\/p>\n The post Bitcoin Price Analysis: Can BTC Bounce Back to $100K Following 8% Weekly Drop?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin has been navigating an ascending consolidation phase near its critical $108K resistance level, recently encountering a sharp decline. However, strong support zones suggest a potential for a short-term bullish rebound. Technical Analysis By Shayan The Daily Chart Bitcoin has undergone an ascending consolidation phase near the $108K resistance region, only to face increased selling […]<\/p>\n","protected":false},"author":0,"featured_media":30559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30558"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30558"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30559"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Daily Chart<\/h3>\n
The 4-Hour Chart<\/h3>\n
On-chain Analysis<\/h2>\n
![<\/a>Source: TradingView<\/p>\nThe 4-Hour Chart<\/h3>\nOn the 4-hour chart, Bitcoin has been consistently trending upward within a multi-month bullish channel. The recent rejection at $108K triggered a sharp decline, bringing the price down to the channel\u2019s middle boundary near $95K, a crucial dynamic support level.<\/p>\nA bounce from this region is anticipated, allowing the price to stabilize and potentially resume its uptrend. However, concerns over a hawkish monetary policy for 2025 may amplify selling pressure, increasing the likelihood of a bearish breakout.<\/p>\nIn such a scenario, Bitcoin could face further downside, with $90K as an immediate target and $75K as long-term support.<\/p>\n<\/a>Source: TradingView<\/p>\nOn-chain Analysis<\/h2>\nBy Shayan<\/a><\/p>\nThe Bitcoin Long-Term Holder SOPR metric provides valuable insights into market behavior and investor sentiment. Between 2022 and mid-2023, the SOPR remained below 1 for an extended period, indicating that long-term holders were selling at a loss associated with market capitulation.<\/p>\nBy mid-2023, the SOPR began trending closer to or above 1, marking the beginning of a recovery. This shift was aligned with a broader market rebound as Bitcoin prices rose, reflecting renewed confidence among investors. The upward trend in SOPR suggested that long-term holders were no longer selling at a loss, a key sign of improving sentiment.<\/p>\nAs the market moved into 2024, Bitcoin prices continued to climb, and the SOPR consistently stayed above 1. This shift signified that long-term holders realized profits, but the selling pressure remained controlled.<\/p>\nThe stability of the SOPR above 1 highlights sustained confidence among investors, reinforcing that market conditions support continued growth, with a potential for further market expansion.<\/p>\n<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Can BTC Bounce Back to $100K Following 8% Weekly Drop?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has been navigating an ascending consolidation phase near its critical $108K resistance level, recently encountering a sharp decline. However, strong support zones suggest a potential for a short-term bullish rebound. Technical Analysis By Shayan The Daily Chart Bitcoin has undergone an ascending consolidation phase near the $108K resistance region, only to face increased selling […]<\/p>\n","protected":false},"author":0,"featured_media":30559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30558"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30558"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30559"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTC-D-1-scaled.jpg\"){kind=link}
![<\/a>Source: TradingView<\/p>\nOn-chain Analysis<\/h2>\nBy Shayan<\/a><\/p>\nThe Bitcoin Long-Term Holder SOPR metric provides valuable insights into market behavior and investor sentiment. Between 2022 and mid-2023, the SOPR remained below 1 for an extended period, indicating that long-term holders were selling at a loss associated with market capitulation.<\/p>\nBy mid-2023, the SOPR began trending closer to or above 1, marking the beginning of a recovery. This shift was aligned with a broader market rebound as Bitcoin prices rose, reflecting renewed confidence among investors. The upward trend in SOPR suggested that long-term holders were no longer selling at a loss, a key sign of improving sentiment.<\/p>\nAs the market moved into 2024, Bitcoin prices continued to climb, and the SOPR consistently stayed above 1. This shift signified that long-term holders realized profits, but the selling pressure remained controlled.<\/p>\nThe stability of the SOPR above 1 highlights sustained confidence among investors, reinforcing that market conditions support continued growth, with a potential for further market expansion.<\/p>\n<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Can BTC Bounce Back to $100K Following 8% Weekly Drop?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has been navigating an ascending consolidation phase near its critical $108K resistance level, recently encountering a sharp decline. However, strong support zones suggest a potential for a short-term bullish rebound. Technical Analysis By Shayan The Daily Chart Bitcoin has undergone an ascending consolidation phase near the $108K resistance region, only to face increased selling […]<\/p>\n","protected":false},"author":0,"featured_media":30559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30558"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30558"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30559"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTC-4H-1-scaled.jpg\"){kind=link}
![<\/a>Source: CryptoQuant<\/p>\nThe post Bitcoin Price Analysis: Can BTC Bounce Back to $100K Following 8% Weekly Drop?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has been navigating an ascending consolidation phase near its critical $108K resistance level, recently encountering a sharp decline. However, strong support zones suggest a potential for a short-term bullish rebound. Technical Analysis By Shayan The Daily Chart Bitcoin has undergone an ascending consolidation phase near the $108K resistance region, only to face increased selling […]<\/p>\n","protected":false},"author":0,"featured_media":30559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30558"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30558"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30559"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/Bitcoin-Long-Term-Holder-SOPR-scaled.jpg\"){kind=link}