๐จ $BTC Price Analysis: Whatโs Next After the $100K Struggle? ๐จ
Bitcoinโs dream of holding steady above $100,000 has hit a speed bump! ๐๐จ The king of crypto slipped below its moving averages on January 7, leaving short-term bulls scrambling to book profits. ๐
Hereโs the breakdown:
๐ Momentum Losing Steam?
Both moving averages are now flattening out, and the Relative Strength Index (RSI) is dipping below the midpoint. Translation? ๐ฆ The once-powerful bullish momentum is showing signs of weakening.
The BTC/USDT pair could slide further to $90,000, a critical support zone. If sellers push Bitcoin below the $90K-$85K range, it could trigger a short-term trend reversal. Bears are watching closely! ๐๐ป
๐ Bullsโ Comeback Plan
But donโt count the bulls out just yet! If Bitcoin bounces from current levels and reclaims the moving averages, itโll show that dips are being snapped up by eager buyers. ๐ช๐
In this case, BTC could break above $102,725, reigniting hopes of a rally toward its all-time high of $108,353. A new high? Cue the fireworks! ๐๐
๐ฎ Key Levels to Watch:
โข Support: $90,000 to $85,000
โข Resistance: $102,725 and $108,353
The Big Question: Bear Trap or Bull Breakout? ๐ป vs ๐
Bitcoinโs next move will depend on whether buyers can regain control or if sellers dig in at key resistance levels. One thing is for sure: volatility is brewing! ๐ช๏ธ
Whatโs your take? Is BTC gearing up for a moonshot ๐ or heading for a cooldown? Let us know!
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