Bitcoin (BTC) Price Analysis for December 24: BTC Nears Critical Juncture, Risking Loss of Green Wave Momentum

Cryptocurrency markets are trading down on Friday, with Bitcoin falling below the $95,000 mark.

Cryptocurrency markets are trading lower on Friday, with Bitcoin slipping below the $95,000 mark.

After failing to decisively breach the $100,000 resistance level, BTC has been consolidating within a key trading range.

As the world’s largest cryptocurrency trades within this range, several traders are sharing their technical outlooks and observations.

Crucial Levels: As Bitcoin trades within a critical trading range, several traders have identified key levels to watch.

Crypto chart analyst Ali Martinez highlights a dip below $92,730, which could lead to “essentially free-fall territory.”

Meanwhile, another trader, Cold Blooded Shiller, notes that BTC is nearing a critical juncture, risking the loss of its green wave momentum, which has been building since breaking out of the $60,000 consolidation phase.

Bitcoin is nearing a critical juncture, where it risks losing its green wave momentum, which has been building since breaking out of the $60k consolidation chop-fest.

first time $BTC is on the verge of losing the green wave since breaking from the $60k consolidation chopfest

we begin our prayers pic.twitter.com/v6TISyMBqC

Top Gainers: The total cryptocurrency market cap now stands at $2.86 trillion, with a decrease of 1.18% over the past 24 hours.

However, the total volume of the crypto market has risen by 6.67% to $110.66 billion.

Among the top 100 cryptocurrencies, the biggest gainer is Arweave, which has surged by over 20% to trade at $80.38.

Other notable gainers include Theta Network, which is up over 14%, and NEAR Protocol, which has gained over 12%.

Trader Notes: Daan Crypto Trades describes Bitcoin as being in a choppy, range-bound state, with no significant price movement over the past week.

He highlights the range high at $99,500 and the range low at $92,000 as key levels to watch, suggesting that trading within this range may not be worthwhile.

Chart analyst Jesse Olson observed that Bitcoin failed to deliver the anticipated Santa rally but did manage a Santa bounce, forming a lower high.

He cautions that a daily candle close below approximately $94,850 would confirm a bearish shift, urging traders to monitor today’s close for further direction.

It wasn't a #Bitcoin Santa rally like everyone had hoped but it was a Santa bounce creating a lower high.

A candle close below $94,850 ish confirms this today.

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