Bitcoin has failed to sustain its rally above the $100K level and has been correcting over the last week.<\/p>\n
Yet, a bullish continuation can materialize soon.<\/p>\n
By Edris Derakhshi (TradingRage)<\/a><\/p>\n On the daily chart, the asset dropped below the $100K level last week and has failed to climb back above it since. While the $90K support zone has held the market, preventing it from dropping lower, the price has failed to break above the $100K level yet again and is getting rejected to the downside.<\/p>\n This could result in a deeper continuation below the $90K and toward the $80K area in the coming weeks if the price fails to break back above $100K.<\/a><\/p>\n Looking at the 4-hour timeframe, things look slightly more tricky for Bitcoin. The price has recently broken the ascending channel pattern to the downside, which can be a reversal signal. The lower boundary of the pattern has also been retested twice alongside the $100K resistance level.<\/p>\n Yet, both levels have held and pushed the asset lower, which could lead to a drop toward the $90K level and even lower in the short term.<\/a><\/p>\n \u00a0<\/p>\n By Edris Derakhshi (TradingRage)<\/a><\/p>\n Not everything can be figured out using technical and price analysis. For a better view of the underlying dynamics of the Bitcoin network, it is beneficial to analyze on-chain metrics.<\/p>\n This chart presents the long-term holder SOPR metric, which measures the ratio of profit realization by investors who have held their coins for over 6 months. As the chart suggests, the realized profit is relatively high, but it has yet to reach the values previously seen when the market was consolidating below the $70K level. This is especially interesting, as BTC is now trading around $100K.<\/p>\n As a result, it could be interpreted that long-term holders\u2019 selling pressure is still insufficient to overwhelm the market, and the price could still rally higher in the coming weeks. <\/a><\/p>\n The post Bitcoin Price Analysis: BTC Risks Dropping Toward $80K if it Fails to Reclaim $100K Soon<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin has failed to sustain its rally above the $100K level and has been correcting over the last week. Yet, a bullish continuation can materialize soon. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset dropped below the $100K level last week and has failed to climb back above […]<\/p>\n","protected":false},"author":0,"featured_media":31287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31286","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\/31286"}],"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=31286"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31287"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31286"}],"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
Long-Term Holder SOPR<\/h3>\n
![<\/a><\/p>\nThe 4-Hour Chart<\/h3>\nLooking at the 4-hour timeframe, things look slightly more tricky for Bitcoin. The price has recently broken the ascending channel pattern to the downside, which can be a reversal signal. The lower boundary of the pattern has also been retested twice alongside the $100K resistance level.<\/p>\nYet, both levels have held and pushed the asset lower, which could lead to a drop toward the $90K level and even lower in the short term.<\/a><\/p>\n\u00a0<\/p>\nOn-Chain Analysis<\/h2>\nBy Edris Derakhshi (TradingRage)<\/a><\/p>\nLong-Term Holder SOPR<\/h3>\nNot everything can be figured out using technical and price analysis. For a better view of the underlying dynamics of the Bitcoin network, it is beneficial to analyze on-chain metrics.<\/p>\nThis chart presents the long-term holder SOPR metric, which measures the ratio of profit realization by investors who have held their coins for over 6 months. As the chart suggests, the realized profit is relatively high, but it has yet to reach the values previously seen when the market was consolidating below the $70K level. This is especially interesting, as BTC is now trading around $100K.<\/p>\nAs a result, it could be interpreted that long-term holders\u2019 selling pressure is still insufficient to overwhelm the market, and the price could still rally higher in the coming weeks. <\/a><\/p>\nThe post Bitcoin Price Analysis: BTC Risks Dropping Toward $80K if it Fails to Reclaim $100K Soon<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has failed to sustain its rally above the $100K level and has been correcting over the last week. Yet, a bullish continuation can materialize soon. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset dropped below the $100K level last week and has failed to climb back above […]<\/p>\n","protected":false},"author":0,"featured_media":31287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31286","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\/31286"}],"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=31286"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31287"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTCUSDT-Daily-Dec-26-2024-scaled.jpg\"){kind=link}
![<\/a><\/p>\n\u00a0<\/p>\nOn-Chain Analysis<\/h2>\nBy Edris Derakhshi (TradingRage)<\/a><\/p>\nLong-Term Holder SOPR<\/h3>\nNot everything can be figured out using technical and price analysis. For a better view of the underlying dynamics of the Bitcoin network, it is beneficial to analyze on-chain metrics.<\/p>\nThis chart presents the long-term holder SOPR metric, which measures the ratio of profit realization by investors who have held their coins for over 6 months. As the chart suggests, the realized profit is relatively high, but it has yet to reach the values previously seen when the market was consolidating below the $70K level. This is especially interesting, as BTC is now trading around $100K.<\/p>\nAs a result, it could be interpreted that long-term holders\u2019 selling pressure is still insufficient to overwhelm the market, and the price could still rally higher in the coming weeks. <\/a><\/p>\nThe post Bitcoin Price Analysis: BTC Risks Dropping Toward $80K if it Fails to Reclaim $100K Soon<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has failed to sustain its rally above the $100K level and has been correcting over the last week. Yet, a bullish continuation can materialize soon. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset dropped below the $100K level last week and has failed to climb back above […]<\/p>\n","protected":false},"author":0,"featured_media":31287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31286","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\/31286"}],"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=31286"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31287"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTCUSDT-4H-Dec-26-2024-scaled.jpg\"){kind=link}
![<\/a><\/p>\nThe post Bitcoin Price Analysis: BTC Risks Dropping Toward $80K if it Fails to Reclaim $100K Soon<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin has failed to sustain its rally above the $100K level and has been correcting over the last week. Yet, a bullish continuation can materialize soon. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset dropped below the $100K level last week and has failed to climb back above […]<\/p>\n","protected":false},"author":0,"featured_media":31287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31286","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\/31286"}],"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=31286"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31287"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/Bitcoin-Long-Term-Holder-SOPR-1-scaled.jpg\"){kind=link}