The post Analysts Predict A Bitcoin Correction In December, Investors Buy Lunex Network And Dogecoin Instead appeared on BitcoinEthereumNews.com.

A major Bitcoin (BTC) pullback could be looming as signs of weakness are appearing on the chart. On the other hand, Dogecoin (DOGE) seems ready to fly as it recently broke through crucial resistance, however, bulls must defend this level at any cost if they want to see upward price discovery. Lunex Network is another contender that could experience a massive rally in the upcoming weeks. Thousands of investors have already rushed to the presale, as over $4.6 million has been raised in record time. Bitcoin Enters Cool-Off Phase Just Below $100k All eyes are on Bitcoin (BTC) as it finally reaches the $100k milestone, and then added a few thousand for good measure. Predictably, at the top, selling pressure grew and Bitcoin retraced, briefly tapping the $96k support before rebounding.  Today, Bitcoin sells for $99,569, reflecting a 3% gain. A deeper correction could be in store, on Bitcoin’s 4-hour chart, a bearish divergence has appeared, as the RSI is dipping while the price has been moving above an ascending trendline. A break below this trendline could confirm a short-term bearish scenario for Bitcoin. Trading volume has dipped by 45%, or roughly $65 billion worth of BTC traded across exchanges, this decline goes to show that buyers are taking a step back and redirecting attention to other altcoins that could be primed for new surges, such as Dogecoin and Lunex Network. Dogecoin Reclaims $0.45, What’s Next? After consolidating around $0.40 for the past few weeks, Dogecoin (DOGE) has soared by 3.8% on the daily timeframe, reaching $0.45. If this resistance is flipped into support, the way would be paved for Dogecoin to surge above $0.50 by the end of the year and possibly, reach the prophesied $1 landmark in early 2025. Analyst and trader Eliz has shared a Dogecoin chart…

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Filed under: News - @ December 9, 2024 10:20 am