Bitcoin faces resistance and warning of deep correction from top strategist.
Bitcoin failed to break out of its tight trading range and remained below $28,000, with traders compressing the likely zone of movement for the spot price. Analysts predict two possible outcomes for BTC/USD: a grind with EMA trend or a bleed towards 1D range low and breakdown. Some remain optimistic about Bitcoin's path for the coming year, while others eye a potential long-term "double top" formation with a drop to $27,000. Calculations call for another bullish double top for Bitcoin in 2025, potentially peaking above $200,000.