Bitcoin’s Santa Rally and Emerging Risks
Bitcoin’s traditional holiday surge, the Santa Rally, faces challenges despite initial optimism. After momentarily dropping below the 50-day EMA at $95,000, Bitcoin rebounded to $97,000. However, concerns over lower highs suggest a potential continuation of a downtrend. A failure to surpass $104,000 could pull Bitcoin towards key support levels, such as the 100-day EMA at $84,500 or even $76,000.
Investor Sentiment and Market Uncertainty during this Bitcoin’s Santa Rally
Mixed volume indicators highlight uncertainty about Bitcoin’s trajectory. Without a breakout beyond resistance levels, the current recovery might falter. Investors should approach cautiously as the risk of a steep correction looms.
XRP’s Struggles Amid a Bearish Channel
XRP continues its descent within a bearish channel, testing critical support at the 26 EMA. A breach could push XRP toward the $1.50-$1.80 range, while sustained support might stabilize the asset. Resistance at $2.50 remains a key obstacle for reversing market sentiment.
DOGE’s Resilience and Potential for Recovery
DOGE has shown resilience near its 100 EMA at $0.28, though declining trading volumes reflect market indecision. A sustained position above this level could spark recovery, targeting $0.37, provided bullish momentum builds. Will it follow last DOGE observations made two week ago ?
