BTCUSDT update, Support and resistance!!
2025-01-30
Category: None

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Let's analyze BTCUSDT :
Bitcoin (BTC) has exhibited strong momentum, particularly on weekly closing days, and is trading within a defined channel.
Looking back, on Monday, January 13th, BTC reached a low of $89,000. One week later, on Monday, January 20th, it surged to a new all-time high (ATH) of $109,599. More recently, on Monday, January 27th, BTC dipped to $98,000 from its ATH but quickly recovered from the support zone around $98,500. 50 EMA also supports this level on daily TF.
If BTC fails to hold this level and breaks down from the channel, immediate support would be $91.5k.
This recent price action has fueled anticipation of another new all-time high by next Monday.  Currently, BTC is facing resistance at the $106,000 level, which also acts as a breakout zone on shorter timeframes.  A daily close above this $106,000 resistance level could potentially trigger a rally toward the $120,000 mark.

Key Support Levels:
$98.5k

Key Resistance Level:
$106k

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