The BTCUSDT pair is in a downtrend in both 4-hour and daily time frames. During some moments today, the pair reached a two-month-low price at $89,000. The first resistance level after the current zone is located in the $94,000-$95,000 range, with the strongest support zone between $85,000-$86,000.
Against that, there is a prominent upward trendline; the first resistance lies at the 58.50% Fibonacci level. The trend could well be reversed if the price breaks below the 57.70% level.
Large Market Sentiment: The market is somewhat expectant that traders will see the Federal Reserve not cut rates in the January 29 meeting. At the same time, one mustn't forget that the first-ever pro-crypto U.S. President's inauguration might have a positive effect on the market and thus give a jolt to cryptocurrencies.
Against that, there is a prominent upward trendline; the first resistance lies at the 58.50% Fibonacci level. The trend could well be reversed if the price breaks below the 57.70% level.
Large Market Sentiment: The market is somewhat expectant that traders will see the Federal Reserve not cut rates in the January 29 meeting. At the same time, one mustn't forget that the first-ever pro-crypto U.S. President's inauguration might have a positive effect on the market and thus give a jolt to cryptocurrencies.
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.