#CryptoMarketDip
Bitcoin 4-Hour Analysis for Newcomers (08 January 2025, 01:10 AM Pak Time)
Key Levels
- *Immediate Support*: 94,500 USDT
- *Immediate Resistance*: 100,000 USDT
Technical Analysis
*RSI Analysis*
The RSI is near 30, indicating an oversold zone. Although the price has dropped, this could be a rebound signal. If the RSI falls below 30, it may lead to further bearish pressure.
*MACD Analysis*
The MACD line has crossed below the signal line, indicating a bearish crossover and a short-term downtrend. The histogram is also negative, but the sell pressure is decreasing slightly.
*Volume Analysis*
The volume was high when the price dropped, confirming that sellers are active in the market. Now, the volume is decreasing, indicating that the price may enter a consolidation phase.
Fundamental News
The recent US job report was strong, leading investors to sell risk assets like crypto, causing the BTC price to drop.
Conclusion
In the short term, the price may drop further, but the RSI is in an oversold zone, indicating a potential bounce. If the 94,500 support level is broken, the market may become more bearish. The resistance level is at 100,000, which needs to be broken for a bullish trend to emerge.