Bitcoin has experienced a significant decline this week to touch the price of $90,900 after the breakout of the trendline indicating the trend will change as well as the breakout of support at $95,900 which causes a change in trend from uptrend to downtrend and stops at the Daily resistance level that has been broken out, causing a change in resistance to become new support until a reversal back up by chasing support that has been broken out at $95.900, if the price manages to breakout in the $95,900-$96,700 zone area, the price will go to the highest supply / resistance area at $99,000 and does not rule out the possibility of making a new ATH but if the price fails to break through, the price will reversal back down to try once again to break new support at $90,900 and if broken the price will continue its journey to the next support point at $87,000.



Disclaimer: DYOR!!
Not recommended for Future Entry, only SPOT.
All of this is my personal analysis, not taking analysis from other people, AT ALL.



UPDATE 05 december 2024, 02:20:55
https://bitcointalk.org/index.php?topic=5520859.msg64814326#msg64814326

When we have a look on the bitcoin market price and how it has been moving on a pace of retracement, we could figure out more points and facts about the market conditions, we can see the resistance as well as the sentiment from the chart, which also tells that there is a particular range in which when the market reaches there is either a breakout or a sentiment there, this will tell more on how we should expect on the two sides, for the market to go bearish or bullish all withing the range of $90,000 to $99,000 and this is also evident from the market trend if we look more closely on how it have been moving by this same pattern, we may continue in this for the rest of this month before any further breakout or resistance.

This correction in the last few days was to be expected after such a strong and sustained bullish run.  Its a natural part of the market cycle, and these pullbacks often present buying opportunities for long-term investors. The good thing is that the price has already almost recovered, and we are currently at 96,500 and that bullish sentiment remains strong.  That resistance area at $99,000 will not be able to hold for long and the supply will evaporate. $100k is just a matter of time.

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December looks to be achievable on the $100k price mark but with what we have witnessed with the rising of price this past weeks,  the two days left to the end of November is armful enough to expect the price to break through the $99k  resistant point in the event of a positive market news within 48 hrs to december. Moreover we are still in the bull run.

It's obvious that there is a big resistance at $100k, we are close to it though, but for now it seems that the price is a big psychological barrier so we will have to wait. Although I will say that the sentiments is still very bullish, but there are moments that we need to see some minor correction. It's not that bad to see those, I mean that's where smart investors comes in, when the price is at a decline.

And so with that, it might take like 2 or 3 tries before we can finally see that $100k or higher. For now, it's hard to predict when we are going to see it. In the last 4 hours or so, we are in a decline again, after hitting like $97k, there is a sell off pushing the price to $95k. It could be worst if we see $90k, but then again, there are investors who are going to wait for it to happen before jumping in again.

UPDATE ANALYSIS OF BITCOIN POTENTIAL TO EXPERIENCE CORRECTION

More than a week BTC experienced sideaway after several attempts
breakout Resistance/ath at the price of $99,000, BTC finally succeeded in breaking out to make a new Higher high or ATH, after the emergence of several good news, one of which was Donald Trump's appointment of Paul Atkins as the new Head of the SEC and it is clear that this good news had a significant impact on the increase current price of BTC, then if it continues to rally BTC will have the opportunity to catch up to the price at $112,000 Fibo point 2.618, if it succeeds in breaking out the possibility of a new ATH will be at the price $121,000.

The second scenario is if Bitcoin falls to the price of $99,000, which was the previous point which has now become a support point after the breakout. If it successfully breaks through that support, it has a strong potential to reach a price of $93,000 and it is not impossible that the trend will change from UPTREND to DOWNTREND.

PRICE ENTRY:
High Risk = $98,000
Medium Risk = $93,000
Low Risk = $90,000

Every entry point I provide has the potential to increase by 3-7%

Because of the potential for correction, I suggest maintaining Money Management to minimize risk.

Disclaimer: DYOR!!
Not recommended for Future Entry, only SPOT.
All of this is my personal analysis, not taking analysis from other people, AT ALL.