Bitcoin / TetherUSShort
BTC update - Jan 07 2025
Starting the new year, BTC managed to rise from the 91,000 zone and retraced some of its recent drop.
Having reached the important zone of 102,000 - 103,500, BTC is showing heavy rejection off the mentioned zone and since the short-term indicated blue trendline is broken, it is safe to assume that BTC is once again heading for lower levels to complete its correction pattern,
Important levels ahead are 91,000 , 88,750 and 87,300 but it is best for BTC to avoid dropping below the 90,000 level. However, one should take into account the possibility of a major liquidity hunt below the 90,000 level before a nice upward move.
Having reached the important zone of 102,000 - 103,500, BTC is showing heavy rejection off the mentioned zone and since the short-term indicated blue trendline is broken, it is safe to assume that BTC is once again heading for lower levels to complete its correction pattern,
Important levels ahead are 91,000 , 88,750 and 87,300 but it is best for BTC to avoid dropping below the 90,000 level. However, one should take into account the possibility of a major liquidity hunt below the 90,000 level before a nice upward move.
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