Bitcoin is facing a major challenge as the price remains below $100,000. After a sharp decline to $91,300 at the end of December, BTC has recovered above $98,000, a 7.5% increase from the low. However, strong resistance from $98,000 to $100,000 is hindering growth momentum. 📉

A positive signal is that over 48,000 BTC have been withdrawn from exchanges, reducing immediate selling pressure. Martinez, a prominent analyst, stated that BTC needs to close above the 50-day moving average to confirm an upward trend. If not, the "head and shoulders" pattern could pull the price down to $78,000. 🚀

This development indicates the complexity and potential of the cryptocurrency market.