#BinanceAlphaAlert
CRYPTOCURRENCY MARKET VOLATILITY CONTINUES
On December 23, 2024, there were significant fluctuations in the Bitcoin (BTC) and Ethereum (ETH) markets. BTC recovered to the level of $93,500 in the morning, remaining below the previous jump. It then rose to $96,500, but fell again. The day proved to be volatile during trading, but after the opening of American exchanges, the market began to fall again, dropping below support at $93,500 and stopping at around $92,800. The declines were limited at this level.
In the daily charts, it is observed that the price is approaching the lower limit of the Bollinger band, but does not directly cross it. This indicates that the market is in a consolidation phase and has a potential recovery zone. The 4-hour charts indicate that with the support of initial data from the opening of the American stock exchanges, the price does not remain firmly below the level of $93,000 and this level may be a preparation for future growth.
Analysts view the market downturn as an opportunity to buy. In particular, it is recommended to open long positions for BTC in the range of $92,700-93,200, with the first target at $95,000. For ETH, it is recommended to buy in the range of $3,270-3,300 with the goal of reaching $3,400.
Considering the constant fluctuations in the cryptocurrency market, it is important for investors to take into account support and resistance levels when forming their strategies.
