Bitcoin ETF

Bitcoin

Polkadot

Avalanche

<p>Bitcoin’s price was relatively calm over the weekend but is still up 5% over the last week, trading above the $43,000 level as of this writing.</p> 
<p>With the holidays now underway, including Christmas today and New Years just 6 days away, we may see slower price action in the coming days as traders, bulls and bears spend more time away from the charts with family.</p> 
<p>However, the market seems to be anticipating potential Bitcoin ETF approvals from the SEC expected in early January 2024. This regulatory clarity could provide a positive catalyst for Bitcoin’s price.</p> 
<p>Some analysts like Blockchainedbb are still <a href="https://x.com/blockchainedbb/status/1739234661237162140?s=20" target="_blank" rel="nofollow">keeping</a> a close eye on the charts even during the holidays. As he noted on Twitter:</p> 
<p><em>“The red path was our original plan. However, $BTC lost the purple line which was our last straw…”</em></p> 
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<p>He goes on to explain closing out his long positions and planning to add to his BTC and ETH shorts, expecting further downside.</p> 
<p>Another popular analyst Moustache, with over 80k followers, <a href="https://x.com/el_crypto_prof/status/1739242909226987556?s=20" target="_blank" rel="nofollow">tweeted</a> a more optimistic long-term view:</p> 
<p><em>“#Bitcoin $48,000 as the next big target for $BTC is inevitable. If it breaks above that, we could even reach $60,000…”</em></p> 
<p>He notes this would align with Bitcoin’s historical bull market patterns going back years.</p> 
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<p>Zooming out, Bitcoin’s price has been in an uptrend since the beginning of 2023, rising 160% to a new peak of $44,700 on December 8th. However, some uncertainty emerged as BTC closed below and then back above that 0.5 Fib retracement level over subsequent weeks.</p> 
<p>Traders monitor momentum indicators like the Relative Strength Index (RSI) to gauge trends. With the RSI rising above 50 and in bullish territory currently, this suggests upside momentum remains.</p> 
<p>The path forward for Bitcoin may depend on whether bulls or bears take control as we head into the new year. But analysts seem divided on whether short-term headwinds or long-term historical patterns will win out. Volatility likely lies ahead.</p> 
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<p>The post <a href="https://captainaltcoin.com/will-bitcoin-traders-bet-on-bullish-or-bearish-outcomes-this-holiday-season/">Will Bitcoin Traders Bet on Bullish or Bearish Outcomes This Holiday Season?</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Will Bitcoin Traders Bet on Bullish or Bearish Outcomes This Holiday Season?

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