The price of Bitcoin traded at approximately $98,000 on January 4, up 1.25%, but faced some pressure when nearing the significant resistance level of $100,000. If it cannot effectively break through this resistance, a pullback may occur; if it can successfully break through and stabilize, it may open up new upward space.

The USD spot Bitcoin ETF funds have strongly rebounded to $900 million, with Fidelity's FBTC ETF performing outstandingly, holding a total of 3,640 BTC, and the large inflow of funds supports the price increase. The Coinbase premium index once hit a two-year low but is rapidly recovering, indicating that demand for Bitcoin from U.S. institutional investors is heating up.

From a technical perspective: The 4-hour candlestick chart shows a clear bullish trend, with both highs and lows continually rising. The price consistently uses the 7-day exponential moving average (EMA) as dynamic support, indicating strong interest in buying on dips. Bitcoin's price is above the 7-day, 25-day, and 99-day EMAs, which are $97,766.15, $96,328.84, and $96,452.87, respectively, and the EMAs are arranged in an upward manner, indicating a strong bullish sentiment overall. The RSI (6) is at 68.44, close to the overbought threshold of 70, suggesting that the price trend remains bullish. The moving average index shows strong buying power, indicating that bullish momentum is strengthening, and the price is trending upward.

January 4

Bitcoin: 96,900-97,400 long, target 98,400-99,100, stop loss 96,400

Ethereum: 3580-3610 long, target 3650-3690, stop loss 3540