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24.12.202407:33 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement Bitcoin Cryptocurrency, Tuesday December 24, 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 24.12.2024 analysis

There are some interesting things that we can find on the 4-hour chart of the Bitcoin cryptocurrency where even though the current price movement of #BTC is below the WMA (30 Shift 2) that has a decreasing slope which means that Sellers are quite dominant, but with the appearance of the Megaphone pattern and followed by the appearance of deviations between the Bitcoin price movement and the Stochastic Oscillator indicator (5,3,3) gives an indication that in the near future Bitcoin has the potential to strengthen upwards where the level of 99486.00 will be tested to be broken upwards, which is important as long as there is no further weakening that falls to close below the level of 90873.44, Bitcoin has the potential to strengthen to the level of 102757.51 and if the momentum and volatility support it, Bitcoin still has the potential to continue its strengthening to the level of 106394.85.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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