PANews reported on December 12th that, according to CoinDesk analyst Omkar Godbole, Bitcoin's current price movement is flat, but technical indicators show potentialPANews reported on December 12th that, according to CoinDesk analyst Omkar Godbole, Bitcoin's current price movement is flat, but technical indicators show potential
Analysis: Bitcoin's resistance level is between $97,000 and $108,000, with $80,000 as the support level.
PANews reported on December 12th that, according to CoinDesk analyst Omkar Godbole, Bitcoin's current price movement is flat, but technical indicators show potential bullish signals. The MACD histogram is nearing the green, and the US Dollar Index (DXY) has weakened to 98.36, suggesting that market sentiment may be shifting towards a more favorable direction for Bitcoin.
Analysts suggest that if Bitcoin breaks through the current downtrend line, it may end its long-term decline, with a target resistance range of $97,000 to $108,000. However, if it breaks below the minor upward channel, it may test the $80,000 support level. Furthermore, continued weak ETF inflows may limit upside potential.
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