BTCUSD: Short-Term Rebound Before Extending Bearish Trend

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In line with previous analysis, BTC remains within a Symmetrical Channel Down pattern, signaling a potential continuation of its downward trend into early 2025. The price is currently approaching a minor support level at 94,992, which could trigger a short-term rebound.

If buying pressure strengthens, BTC may see a technical rebound toward the minor resistance at 98,768, aligning with the upper boundary of the Symmetrical Channel Down. However, as long as the price remains below this level, the broader trend remains bearish, with a potential decline toward the key 2025 support level at 92,102.

Traders should monitor price reactions at these critical levels for confirmation of the next move.

Previous analysis

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تم فتح الصفقة

Based on the previous analysis, BTC is expected to experience a short-term bullish move to test the minor resistance, with a maximum target at the symmetrical channel down resistance around 100. Once this level is reached, a significant correction could occur, potentially triggering a prolonged bearish trend. This downtrend is projected to last approximately one month, with a primary support target around 92,102 and a possible maximum decline toward 88,949.