This Friday (January 10) at 21:30, there will be non-farm payroll and unemployment rate data released, so this week's market may experience a risk-averse pullback.
The current important resistance level in the market is around 100,000 USD. If it can't break through, it may lead to a rebound peak.
If there is a pullback, two possibilities may arise.
The first possibility: a new bullish trend.
If the subsequent pullback does not break the yellow upward trend line, it may bottom out and initiate a new round of increase. From the perspective of the pullback range and the position of the upward trend line, the pullback should not drop below 94,000 USD.
The second possibility: a deeper decline, breaking below 80,000 USD.
If the subsequent pullback breaks the yellow upward trend line and further breaks the previous low of 91,500, it may trigger a new round of decline, as indicated by the red line above.
The stronger support areas are around 85,000 and 74,000.
From the perspective of CME BTC futures, there is still an unfilled gap in the range of 77,300 - 80,700.
The gap is a strong support and a relatively good buying position.
Will Bitcoin enter a new round of increase or break below 80,000 USD? Share your views in the comments.