BTC/USDT CHART UPDATE !!
2025-01-31
Category: None

The chart focuses on the BTC/USDT price action and highlights key technical levels.

The chart shows Bitcoin breaking above the descending trendline, indicating a potential shift in momentum from bearish to bullish.
A successful retest of the trendline could confirm this breakout.

The green area below (around $92,500-$95,000) represents a strong support area where buyers will likely step in.
Immediate resistance is around $107,500-$110,000, which could hinder further upside.

The 21-day MA (black) and 50-day MA (red) are plotted.
Price trading above both moving averages indicates bullish momentum.
The 21-day MA appears to be providing short-term support.
Bitcoin is forming higher highs and higher lows, consistent with an uptrend.

A close above the recent high could signal continued upward momentum.
A breakout above $107,500 could lead to further gains toward the $112,500-$115,000 region.

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DYOR. NFA