BTCUSDT is consolidating between 99.5K and 91.8K as traders await action from politicians and Trump's inauguration as the main driver behind the rally.
Fundamentally, things are still good. Trump promised a lot of positive actions towards bitcoin and the cryptocurrency market in general, but at the moment the main issue is the inclusion of bitcoin on the balance of the federal reserve. But everything depends more on the realization of the promises, if the community does not get what they were promised, a correction may be triggered.
Technically bitcoin looks very strong. After a strong rally, there is no hint of a possible fall or deep correction, which means that someone is keeping the price in the specified range. Until important events, the price can still stand still, in the range between 100K and 90K.
As for altcoins, they are getting a chance as bitcoin dominance continues to decline after the trendline break. A capital move could spark a rally in strong altcoins in the near term.
Resistance levels: 99.5K, 102.5K, 103.5K
Support levels: 95K, 91.7K
Since the price is in neutral and trading between strong levels, I prioritize a false breakdown of resistance and correction inside the channel. Then further reaction may give hints. If there will be no fall and the price starts to consolidate in the resistance area, then we will have a chance to rise to 102-103K.
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