BTCUSDT: Bullish or bearish? Must read!!
2025-01-08
Category: None

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Let's analyze BTCUSDT :

BTC experienced a significant surge to $102.7k, as noted previously in our post, with $102.8k acting as a key resistance level. However, it quickly dropped nearly 6.4% from this resistance point. 

Currently, BTC is trading near the $96k mark. We need strong buying interest to push BTC back up to at least $98.5k. 

Previously, BTC rose from the $91k level to reach $102.8k, so it's crucial to avoid falling below $91k to prevent a lower low. Doing so would strongly indicate a major retest from the parallel channel, potentially reversing the trend to bearish, which would lead us toward the critical support level at $85.7k. 

At present, BTC must maintain a support zone of around $94,700 or at minimum, $91k. If it breaks below $91k, the $85,700 and $76,000 levels will likely follow.

Key Support Levels:
$94,700
$92,500-$91,100

Key Resistance Level:
$98,500

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