BTC/USDT – chart analysis. 
2025-01-16
Category: None

BTC is testing a crucial descending trendline that has acted as resistance over the past several weeks.

The 21 EMA (black) is above the 50 EMA (red), indicating short-term bullish momentum.
Price action near the moving averages suggests a potential breakout or rejection scenario.

$100,000 – $102,000: Immediate resistance zone aligned with the descending trendline.
A breakout above this zone could trigger a rally towards $110,000 – $114,000.

$97,000 – $95,000: Strong demand zone. BTC needs to hold above this zone to maintain the bullish momentum.
Below $94,000, BTC could revisit the crucial support zone of $92,000 – $90,000 (highlighted in green).

A confirmed breakout above $100,000 with strong volume could take BTC towards $110,000 – $114,000, invalidating the downtrend.
If BTC gets rejected at the descending trendline, it could retest the $95,000 level. A break below this level could push BTC towards $92,000.
Volume Profile: Increased volume near the resistance trendline is crucial for a breakout.

RSI (not visible on the chart): Monitor overbought or oversold conditions for additional confirmation.
Breakout Entry: Enter a long position above $100,000, target $110,000 - $114,000. Stop-loss below $98,000.
Rejection Short: If BTC rejects $100,000, enter a short position, target near $95,000 - $92,000.

Let me know if you’d like further assistance or adjustments!

DYOR. NFA