$BTC Update: Caution in the Air Ahead of Inauguration Day
2025-01-20
Category: None

CRYPTOCAP:BTC  Update: Caution in the Air Ahead of Inauguration Day

Bitcoin took a hit leading into tomorrow’s inauguration, currently hovering around $101K, showing signs of downward momentum after failing to secure a new all-time high. The market's hesitation is clear, and for now, it’s all about watching and waiting.

In my last breakdown, I emphasized the importance of sticking to what the charts are telling us. We had been printing lower highs and lower lows, signaling bearish structure—until this weekend. Now, we’ve made a higher high, which could indicate a shift, but we’re not out of the woods yet. The key confirmation? A higher low, which we still need to see before calling a trend reversal.

Current Game Plan:
🔸 No trade zone for now—patience is key.
🔸 A confirmed break below the red zone? That’s a short setup.
🔸 Holding above it? A long opportunity targeting the trendline resistance.

Stay sharp, follow the levels, and let price action guide your next move