Brent Crude Oil Technical Analysis – Daily Timeframe
In the past week, Bitcoin initially broke out of its trading range ceiling at around $104,000 and moved up to the $108,000 area, from which it experienced a significant decline, continuing down to the $92,200 area.
- Main Scenario: It is expected that Bitcoin will experience a period of range-bound fluctuations. Given the overall upward trend, if it surpasses the $108,000 area, the outlook is for new highs.
- Alternative Scenario: If the decline continues and it breaks and stabilizes below the $90,500 to $92,200 area, Bitcoin could see the next low at $85,000.
Technical Analysis of Brent Crude Oil – 4-Hour Timeframe
- Main Scenario: After a strong rebound from the $92,200 area, if Bitcoin breaks and stabilizes above the $99,541 area, it can move to the $105,300 and then $108,290 areas.
- Alternative Scenario: If it breaks below the $95,447 low, it will first see $92,229 and then $90,497.
Technical Analysis of Brent Crude Oil – 15-Minute Timeframe
- Main Scenario: If it breaks $98,039, the next target will be $99,541.
- Alternative Scenario: If it breaks below the $95,911 low, Bitcoin will move towards $93,600 and even lower.
However, it should be noted that given the arrival of the last week of the calendar year, a range-bound market can also be expected.