Bitcoin Daily Timeframe: Quick Update
2025-01-29
Category: None

Today we have the fourth red day.
Yesterday produced high bearish volume —above average.

Yesterday's session has a long lower shadow. This is normally read as bullish because sellers were bought, but, the session ended red.

Considering the bigger picture, on the short-term, yesterday's candle actually represents the removal of support, that's why it produced high volume.

Today's session has a long upper-shadow and the action is happening near the day's open.

Today's session is bearish.

If the market is moving as I believe, within a trading range, then we are yet to see the test of lower support.

The upper resistance has been tested (105K-110K), now the action is set to move to the lower support.

Remember. Just as the upper boundary can be pierced, the same can happen with the lower boundary. That is, a shy lower low.

Still, allow for big variations on the drop end. The only thing we can know for certain is that the market is sideways and will continue sideways for several weeks.

Overall we are bullish.
We are bullish mid-term and long-term.

It is wise to wait for a test of support to load up on more Bitcoins.
It is wise to be patient and hold.

Bitcoin is bullish.
We are post-halving.
We are in a bull-market year, just before the action.
We are witnessing standard boringness before maximum excitement takes place.

Right now, everything is bland.
Soon, Bitcoin will boom and it will be great.

Take this time as an opportunity to plan and prepare.
We are gearing up for the biggest bull-market in the history of Cryptocurrency, time is running out.

Thank you for reading.

Bitcoin is going up.

Namaste.