Daily Market Review and Analysis for BTC: January 7, 2025
2025-01-08
Category: None

#BTC (4h)

The total market capitalization of digital assets increased by 1.75% over the past 24 hours, and the dominance of the leading cryptocurrency grew by 0.6%.  

#Bitcoin moved toward the first liquidity zone around $101,000, but the upward momentum was halted by seller pressure at $102,650. Then, Bitcoin lost the lower boundary of the formation, and the price continued to consolidate above the POC level ($97,400) before the next upward impulse.  

Currently, the primary target for a decline is the $95,924 level. From there, there is a high probability of testing the gap midpoint at $99,433, after which the price will either move upward toward $102,724 or continue its decline to $90,500.

I am consolidating my previous thoughts from analyses that until the Bitcoin price at least clears the liquidity pools at $90,500, $88,722 and $85,000 levels, all upward price momentum above the $100,000 level will be considered a manipulation of the highs. 