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Will Bitcoin Go Up or Down in 2025?
Bitcoin’s price gained by 119% in 2024. Will Bitcoin go up in 2025? Read more for my 2025 Bitcoin price analysis:
Leveraging human expertise and advanced AI tools, I’ve conducted a comprehensive analysis to uncover key insights. This analysis explores the key trends, support and resistance levels, and market behavior that have defined Bitcoin’s journey over the past year.
Bitcoin Technical Analysis: 2024
1. Trend Analysis
- Overall Trend: Bitcoin has maintained a clear uptrend throughout much of the year, characterized by higher highs and higher lows, particularly in the second half.
- Recent Action: After peaking above $100,000, Bitcoin is undergoing a correction, with its price currently around $92,986, reflecting a short-term downtrend.
2. Key Support and Resistance Levels
- Support:
- $90,000 appears to be a crucial short-term support level.
- If the price dips further, previous consolidation zones between $80,000 and $85,000 may act as stronger support.
- Resistance:
- The recent peak of ~$100,000 serves as a significant resistance level.
- Intermediate resistance is present around $95,000…