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Coincidence? Maybe.

As it stands, $BTC is currently trading three channels lower than its previous ATH of $73.5k on March 12th. Interestingly, $125k currently aligns with the exact channel Bitcoin was in 10 months ago, before making a major correction to the first channel of 56k which currently aligns with $80k, placing $103k at the midpoint.

- From here, two scenarios could unfold:

• Uptrend: Confirmed by a breakout above $102k by January 12th, coupled with a high-volume candlestick and new Fibonacci levels.

• Downtrend: A failure to break resistance signals further correction.

Key levels include $92k, which has been acting as major support, and $100k as a critical resistance point.

As of January 2025, the cryptocurrency market is exhibiting bullish behavior, with several major cryptocurrencies experiencing notable gains.

This upward trend is largely attributed to recent developments, including the approval of Bitcoin exchange-traded funds (ETFs) by U.S. regulators and a supportive stance from the incoming U.S. administration. President-elect Donald Trump has expressed intentions to establish the U.S. as "the crypto capital of the planet," signaling a favorable regulatory environment for digital assets.

These factors have contributed to increased institutional investment and optimism in the crypto market, suggesting a continuation of the bullish trend in the near future.

It's also crucial to remain cautious considering the monthly candlestick closing with an evening star candlestick, which is historically a bearish indicator for Bitcoin. However, with Donald Trump's promises and Elon Musk's ambitions in the mix, the possibilities remain wide open.

This is not financial advice—just a predictive analysis.

-DYOR

#CryptoReboundStrategy #BitcoinHashRateSurge #BitcoinTurns16 #BTC