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BTC December 23, 2024 daily chart analysis
From the daily chart, the price of BTC began to fall from the highest point of 108,353, and the magnitude of this decline has exceeded 0.2 (which is the magnitude represented by the green curve), and even exceeded all the retracements within the sub-line. So, we consider it as a comprehensive retracement of the sub-line.
We all know that the normal retracement range is between 0.2 and 0.618, and the position corresponding to 0.38 is 88,924 (represented by the blue curve). Currently, BTC has only retraced 0.2, which is not a significant retracement, so this retracement could end at any time.
And once the callback is over, it's good news, BTC will start the next round of rise, and the target of the rise is very clear, it is to move towards the 115,794 point.