BTCUSDT Analysis: Will the $85K Support Hold or Break?
2025-01-14
Category: None

The BTCUSDT pair is in a downtrend in both 4-hour and daily time frames. During some moments today, the pair reached a two-month-low price at $89,000. The first resistance level after the current zone is located in the $94,000-$95,000 range, with the strongest support zone between $85,000-$86,000.

Against that, there is a prominent upward trendline; the first resistance lies at the 58.50% Fibonacci level. The trend could well be reversed if the price breaks below the 57.70% level.

Large Market Sentiment: The market is somewhat expectant that traders will see the Federal Reserve not cut rates in the January 29 meeting. At the same time, one mustn't forget that the first-ever pro-crypto U.S. President's inauguration might have a positive effect on the market and thus give a jolt to cryptocurrencies.