Bitcoin

Impact

<a href="https://en.coin-turk.com/bitcoin-price-predictions-as-2023-draws-to-a-close/" data-wpel-link="internal">Bitcoin</a> (BTC) price has experienced a slight decline since reaching its annual high of $44,730 on December 8th. The price has fluctuated above and below this level several times, contending with a long-term horizontal and Fib resistance level. The question remains: can BTC reclaim this level? 
<h2 id="critical-level-in-btc">Critical Level in BTC</h2> 
In the weekly time frame technical analysis, Bitcoin has been on a significant uptrend since October and reached its annual high of $44,730 on December 8th. The upward movement was characterized by eight consecutive weekly rising candlesticks, pushing the price above a significant horizontal and Fibonacci resistance. Last week, Bitcoin witnessed its first weekly decline candlestick since the start of the uptrend, indicating a shift in momentum. This decline resulted in a retreat below a key resistance level, which could suggest that the breakout was a deviation. 
However, it seems that BTC is regaining its footing and attempting to reclaim this horizontal level. Investors often use the Relative Strength Index (RSI) as a momentum indicator to assess whether a market is overbought or oversold, which helps in making decisions about buying or selling an asset. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-292553 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/bitcoinnn.webp" alt="" width="1807" height="809"> 
<h2 id="complex-outlook-in-bitcoin">“Complex Outlook in Bitcoin”</h2> 
An RSI reading above 50 and an uptrend are favorable for the bulls, while a reading below 50 indicates the opposite. Currently, the RSI is above the 50 level and in the overbought zone. Even though there has been a slight decline, it has not fallen below the 70 threshold, which could be considered a bearish signal. <a href="https://en.coin-turk.com/crypto-market-predictions-a-peek-into-the-future-according-to-experts/" data-wpel-link="internal">Crypto</a> investors and analysts at X have mixed views on the future trend of BTC. Income Sharks suggests that the short-term trend is bearish. A cryptocurrency analyst made the following statement regarding the matter: 
<blockquote> 
 Quick short, easy invalidation. They will say it’s foolish to expose this, but then they will tell you to invest all your <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">money</a> in a token called BONER on SOL. 
</blockquote> Continue Reading: <a href="https://en.coin-turk.com/bitcoins-volatile-price-movement-and-its-impact-on-altcoins/" data-wpel-link="internal">https://en.coin-turk.com/bitcoins-volatile-price-movement-and-its-impact-on-altcoins/</a>

Bitcoin’s Volatile Price Movement and Its Impact on Altcoins

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