Market Update

Happy New Year!

Bitcoin continues to struggle through the holiday season, with limited movement and low volatility. The key levels remain the same:

Support at $92k: This level is crucial for any further retracements. It must hold for Bitcoin to maintain its current range or push higher.

Resistance at $96k (4hr EMA200): This is the major hurdle. The strong rejection from the EMA200 yesterday emphasizes its importance. A break above this level could be the first indication of a move to the upside.

For now, the market remains stagnant, and it’s essential to watch for a decisive break above $96k or a hold of $92k for potential direction in the coming days.