Daily Market Review and Analysis for BTC: January 5, 2025
BTC (4h)
Over the past 24 hours, the total crypto marketcap increased by 0.6%, while #Bitcoin's dominance rose by 0.2%.
Current Situation
On the 4-hour chart, #BTC is seeing growing selling pressure as the price approaches the lower boundary of its ascending channel. Currently, the asset is heading towards testing the key level of POC ($97,400). A breakdown below this level could signal the start of a local correction, followed by a support test near $95,200.
Key Technical Factors:
- Ichimoku Cloud: Its boundaries continue to serve as zones of support and resistance.
- RSI: A decline to 50 will coincide with a test of the EMA 100 level, providing crucial support for the asset.
Forecast:
- Local Support: A bullish rebound is expected in the $95,000 – $95,500 range.
- Bullish Scenario: Breaking above the Ichimoku Cloud's upper boundary at $99,900 will strengthen buyers' positions, with the next resistance target at $104,000.
Institutional Insight:
On January 3, U.S. spot Bitcoin ETFs recorded a daily inflow of **$908 million**, the highest since late November 2024. This trend highlights the positive expectations of institutional investors, despite potential local corrections.
Key Points:
1) Monitor the $97,400 level closely — a breakdown will determine the next price movement.
2) Watch technical indicators like RSI and EMA to confirm support levels.
3) Pay attention to trading volumes and inflows into institutional products such as Bitcoin ETFs.
Over the past 24 hours, the total crypto marketcap increased by 0.6%, while #Bitcoin's dominance rose by 0.2%.
Current Situation
On the 4-hour chart, #BTC is seeing growing selling pressure as the price approaches the lower boundary of its ascending channel. Currently, the asset is heading towards testing the key level of POC ($97,400). A breakdown below this level could signal the start of a local correction, followed by a support test near $95,200.
Key Technical Factors:
- Ichimoku Cloud: Its boundaries continue to serve as zones of support and resistance.
- RSI: A decline to 50 will coincide with a test of the EMA 100 level, providing crucial support for the asset.
Forecast:
- Local Support: A bullish rebound is expected in the $95,000 – $95,500 range.
- Bullish Scenario: Breaking above the Ichimoku Cloud's upper boundary at $99,900 will strengthen buyers' positions, with the next resistance target at $104,000.
Institutional Insight:
On January 3, U.S. spot Bitcoin ETFs recorded a daily inflow of **$908 million**, the highest since late November 2024. This trend highlights the positive expectations of institutional investors, despite potential local corrections.
Key Points:
1) Monitor the $97,400 level closely — a breakdown will determine the next price movement.
2) Watch technical indicators like RSI and EMA to confirm support levels.
3) Pay attention to trading volumes and inflows into institutional products such as Bitcoin ETFs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.