Technical analysis by moneymagnateash about Symbol BTC on 12/9/2024

Bitcoin (BTCUSD) is holding steady above the psychological $100,000 level after testing strong support near $97,000. The 4-hour Heikin Ashi chart shows a bullish continuation pattern, with price action remaining within the green trend channel, suggesting sustained upward momentum. Key resistance levels are at $101,200 and $105,000, while support is anchored at $98,000 and $96,900. The price’s ability to maintain strength above $100,000 indicates solid demand, potentially paving the way for further gains if momentum holds. Traders should watch for consolidation or a breakout above $101,200 for confirmation of the next bullish leg. Conversely, a pullback below $98,000 could signal a near-term correction.