#HappyNewYearBinancians Up only mood | TMC on Binance Square

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#HappyNewYearBinancians Up only mood

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Market Update Bitcoin reached the $106k level faster than expected, but a rejection followed, as resistance in this area was anticipated. Currently, BTC is testing 4-hour support at $102,750 (previous week's high). Should this support level hold, a retest of $106k is likely. However, if the support fails, the next focus shifts to the $100k mark.

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Market Update Yesterday’s levels played out perfectly as expected. The resistance at $97.5k (marked by the orange line) was broken, followed by a flawless backtest before the price moved towards $103k. Looking ahead, I’m watching for consolidation and a daily close above $100k, which would increase the likelihood of a move towards $106k. In the event of a correction, it’s crucial that we don’t see any 4-hour closes below $97.5k.

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Market Update Bitcoin continued its strong upward momentum yesterday, breaking through the $97.5k resistance on the 4-hour chart. However, it faced resistance just above the $100k level, where it has been unable to push past so far. The $97.5k level remains a key zone to watch for any potential retest. If this area holds as support, BTC could aim for a move towards the $103k mark in the near term.

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In 50 minute we'll get the CPI print

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Market Update: Bitcoin is following the levels outlined from yesterday's analysis. After closing above $95.8k (Monday High and 4-hour EMA200), this level has flipped into support and has been successfully retested. The orange zone is acting as resistance, with each 4-hour candle facing rejection near $97.5k. Key Levels to Watch: Support at $95.8k Resistance at $97.5k With the CPI data release today, expect heightened volatility. Keep an eye on any tests of $95.8k or a clean 4-hour close above $97.5k, as this will likely determine the next move in the market. #CPI_DATA

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