Crypto Market Update by @mahad_crypto112

Current Market Situation

As of Pakistan

*Key Levels:*

1. *Bitcoin Support Levels*: $96,000 and $90,500 are strong support levels, indicating the presence of buyers.

2. *Bitcoin Resistance Levels*: $99,000 and $102,000 are strong resistance levels, indicating the presence of sellers.

Analysis

BTC has established support levels at $96,000 and $90,500, while resistance levels stand at $99,000 and $102,000. Traders should exercise caution and manage risks effectively while navigating these critical price points.

*Price Action:*

- On January 2nd, BTC closed its daily candle near $97,000.

- If subsequent daily candles close above $96,000, it could transition from resistance to support, strengthening the bullish outlook for BTC.

- The price action remains bullish, and a break above the $99,000 resistance could drive further upward momentum.

*Potential Market Movements:*

- A break above $99,000 could lead to a test of the all-time high resistance near $108,000.

- Careful monitoring and adherence to risk management strategies are crucial to capitalizing on potential market movements.

Conclusion

As BTC approaches these key levels, it's essential to stay vigilant and adapt to changing market conditions. Manage your risks effectively and plan your next move accordingly.