BTC price is back on the support at $92,000
After hitting the resistance at $103,000 in 4H, sellers showed up, and they managed to push the price back into the range between $99,000 and $92,000. And the price is back around the 4H support at $92,000:
Bitcoin price is back around the support at $92,000 - January 9, 2025.
Bitcoin price against the dollar (4H)
A rebound is possible around this support, and in this case, the price could return to the resistance at $99,000. On the other hand, if the support is broken, the price could reach the next support at $89,000. The RSI is sliding below the bullish trendline. A reaction is needed here to avoid having a momentum that weakens further.
The $100,000 will not be easy to cross, especially since according to Glassnode data, operators are now distributing. In addition, the dollar is currently strong. Under these conditions, cryptocurrencies could have a hard time making a place for themselves.
