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Bitcoin Rebound Failed At Resistance - Ethereum Validator # A Concern

Institutional Crypto Research Written by Experts

Author

Markus Thielen
December 22, 2024

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👇1-10) Despite a weaker PCE inflation report and attempts by two Federal Reserve members to calm financial markets following Chair Powell’s hawkish press conference, Bitcoin (and the broader crypto market) remains under pressure. The uptrend line (purple) has been broken, and while prices initially fell toward our $92,000/$93,000 support zone, the subsequent rebound was short-lived, stalling as Bitcoin hit the now-resistance purple trendline (red circle).

Bitcoin - hourly data - rebound failed at resistance line

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