BTC rebounds from lows
2025-01-10
Category: None


Judging from the chart, BTC/USDT has shown a clear falling wedge pattern in its recent trend and has touched an important support area (around US$92,500). The price has now rebounded from this support and is gradually moving upwards towards a potential resistance area (around $100,000).

Key Support: $92,500, which has been tested multiple times and has served as a significant support.
Key Resistance: The $100,000 area, located near the 0.5 retracement level ($100,388) and 0.618 ($102,259), are the key levels that the bulls need to overcome in order to rebound.

The price moved from a high of $108,318 to a low of $92,458 with 0.5 and 0.618 acting as strong resistance levels. The current price is hovering around the Fibonacci 0.236 ($96,201) and if the bulls can break above this level, the next targets are $98,516 and $100,388.

From the chart, we can see that the price trend has broken through the wedge boundary after running inside the wedge.
1. The current phase may see sideways movement between $92,500 and $100,000.
2. If the $100,000 resistance level is broken, BTC is expected to start a new round of upward trend, and the target price may point to $102,000 and higher.

Although the specific indicators are not shown, combined with the morphological analysis:
If the breakthrough of the resistance level is accompanied by a large volume, the validity of the rise is confirmed.
A break of the lower support ($92,500) will lead to further declines.

Overall, BTC may fluctuate between $92,500 and $100,000 in the short term. Breaking through $100,000 will open up upside potential, while falling below $92,500 may lead to a further pullback. Investors are advised to pay close attention to the Fibonacci retracement lines and volume changes to confirm the breakthrough signal.

Long order operation suggestion: When BTC pulls back to the support level of 93200-92800 area, participate in long order layout. On the upside, focus on 95400 and 96200.
Suggestions for short position operation: Layout short positions when BTC surges to 96200-95800 area. On the downside, focus on 94200 and 92000.