{"id":667952,"date":"2024-12-29T18:30:33","date_gmt":"2024-12-29T18:30:33","guid":{"rendered":"https:\/\/wncen.com\/?p=667952"},"modified":"2024-12-29T10:13:05","modified_gmt":"2024-12-29T10:13:05","slug":"bitcoin-on-a-rebound-here-are-key-levels-to-watch","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-on-a-rebound-here-are-key-levels-to-watch\/","title":{"rendered":"Bitcoin On A Rebound? Here Are Key Levels To Watch"},"content":{"rendered":"

In an exciting development, Bitcoin may finally be undergoing a market rebound according to a recent prediction by crypto analyst Ali Martinez. <\/span>However, the premier cryptocurrency finds itself in a critical price zone, which holds significant implications for both bullish and bearish market outcomes.
\n<\/span><\/p>\n

\n
Related Reading: Galaxy Research Reveals Bitcoin, Ether And Dogecoin Price Projections In 2025 Crypto Forecast<\/a><\/div>\n<\/div>\n

Bitcoin Must Stay Above $93,400 To Retain Bullish Drive<\/strong><\/h2>\n

In an X video post on December 28, Martinez stated that Bitcoin may be preparing for a price recovery according to certain market indicators. <\/span>Firstly, the analyst stated BTC was forming a bullish divergence against its relative strength index, This is a classic bullish signal that indicates weakening downward momentum and a potential price reversal is on the horizon.\u00a0<\/span><\/p>\n

Furthermore, there are 14 million worth of potential liquidations at $95,300. Martinez believed that market makers would target this price zone which represents a significant concentration of leveraged trading positions.\u00a0 <\/span>Market makers often attempt to eliminate these leveraged positions leading to an increased market liquidity and volatility, on which they can capitalize to make trades at favorable prices.\u00a0<\/span><\/p>\n

Another market development that supports Bitcoin’s potential rebound is an increase in long traders on the Binance exchange from 53.12% to 64.04%. This indicates that more Binance traders, who Martinez claims have a solid track record, are predicting Bitcoin to soon experience a price rise.<\/span><\/p>\n

Since Martinez’s video post, Bitcoin has moved above $94,800, which the analyst described as a key resistance level to the projected rebound.\u00a0 Bitcoin is now expected to rise further to $95,600 with a potential to trade as high as $98,373 in the short term.<\/span><\/p>\n

However, the market expert cautions that Bitcoin is at a crucial juncture, with any drop below the key support level of $93,400 likely to spark a further decline to $84,000 or even $70,000. This would represent a potential 25% drop from its current price.
\n<\/span><\/p>\n

Related Reading: Crypto Market Remains Greedy Despite Bitcoin Price Crash To $94,000, Is A Recovery Coming?<\/a><\/div>\n

BTC Price Overview\u00a0<\/strong><\/h2>\n

At press time, Bitcoin trades at $95,173 following a price gain of 0.93% in the last 24 hours. Meanwhile, the asset\u2019s trading volume is down by 53.76% and is now valued at $24.76 billion.\u00a0<\/span><\/p>\n

The premier cryptocurrency has experienced a rather bearish end to 2024 but market optimism remains rather high. Analysts have continuously described 20-30% corrections<\/a> as part of the bull market setting the stage for stronger price rallies. <\/span>With 2025 fast approaching, a price surge above the $100,000 resistance remains key to inducing another uptrend with lofty projected targets as high as $350,000 in the new year<\/a>.\u00a0<\/span><\/p>\n

\"Bitcoin\"
BTC trades at $95,237 on the daily chart | Source: BTCUSDT chart on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from Tradingview.com<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

In an exciting development, Bitcoin may finally be undergoing a market rebound according to a recent prediction by crypto analyst Ali Martinez. However, the premier cryptocurrency finds itself in a critical price zone, which holds significant implications for both bullish and bearish market outcomes. Related Reading: Galaxy Research Reveals Bitcoin, Ether And Dogecoin Price Projections In 2025 Crypto Forecast Bitcoin Must Stay Above $93,400 To Retain Bullish Drive In an X video post on December 28, Martinez stated that Bitcoin may be preparing for a price recovery according to certain market indicators. Firstly, the analyst stated BTC was forming a bullish divergence against its relative strength index, This is a classic bullish signal that indicates weakening downward momentum and a potential price reversal is on the horizon.\u00a0 Furthermore, there are 14 million worth of potential liquidations at $95,300. Martinez believed that market makers would target this price zone which represents a significant concentration of leveraged trading positions.\u00a0 Market makers often attempt to eliminate these leveraged positions leading to an increased market liquidity and volatility, on which they can capitalize to make trades at favorable prices.\u00a0 Another market development that supports Bitcoin’s potential rebound is an increase in long traders on the Binance exchange from 53.12% to 64.04%. This indicates that more Binance traders, who Martinez claims have a solid track record, are predicting Bitcoin to soon experience a price rise. Since Martinez’s video post, Bitcoin has moved above $94,800, which the analyst described as a key resistance level to the projected rebound.\u00a0 Bitcoin is now expected to rise further to $95,600 with a potential to trade as high as $98,373 in the short term. However, the market expert cautions that Bitcoin is at a crucial juncture, with any drop below the key support level of $93,400 likely to spark a further decline to $84,000 or even $70,000. This would represent a potential 25% drop from its current price. Related Reading: Crypto Market Remains Greedy Despite Bitcoin Price Crash To $94,000, Is A Recovery Coming? BTC Price Overview\u00a0 At press time, Bitcoin trades at $95,173 following a price gain of 0.93% in the last 24 hours. Meanwhile, the asset\u2019s trading volume is down by 53.76% and is now valued at $24.76 billion.\u00a0 The premier cryptocurrency has experienced a rather bearish end to 2024 but market optimism remains rather high. Analysts have continuously described 20-30% corrections as part of the bull market setting the stage for stronger price rallies. With 2025 fast approaching, a price surge above the $100,000 resistance remains key to inducing another uptrend with lofty projected targets as high as $350,000 in the new year.\u00a0 Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":581,"featured_media":667953,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[87818,428,93817,1144,78790],"class_list":["post-667952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-ali-martinez","tag-bitcoin","tag-bitcoin-market-rebound","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin On A Rebound? 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.","sameAs":["https:\/\/www.linkedin.com\/in\/semilore-faleti-7a9046218","https:\/\/x.com\/https:\/\/twitter.com\/SemiloreFaleti"],"url":"https:\/\/wncen.com\/author\/semilorefaleti\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin On A Rebound? 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