Bitcoin Analysis: A Break in the Uptrend – What’s Next? 25.01.10
2025-01-10
Category: None

Hello, this is Greedy All-Day.
Today, we’re analyzing Bitcoin (BTC) and its recent market movements.

Recent Bitcoin Trends



Bitcoin has been facing resistance at the 99380 level (yellow box) since December 20, 2024.
As mentioned in previous briefings, a breakout above this level could signal a potential trend reversal.

The green box resistance zone aligns with the December 19, 2024 high of 102800, which has now become a critical resistance level.

Following this resistance, one might wonder if Bitcoin's trend has fully reversed.

The Break of the Long-Term Uptrend



Bitcoin’s long-term uptrend, which began on October 10, 2024, broke down yesterday.
This breakdown occurred in the orange box, marking a significant shift in momentum.

Why Is This Concerning?

Daily 60 EMA Resistance:

Bitcoin is now facing resistance at the 60 EMA for the first time in a long while, indicating bearish sentiment.
The last time Bitcoin faced resistance at the 60 EMA was in October 2024 (red box), right before the start of the previous uptrend.

Support Breakdowns:

Bitcoin appears to be breaking through key support levels, one by one.

Key Support Zone:
The green box range (90200–85160) is expected to provide strong support.
However, if Bitcoin breaks below this zone, it would trigger:

A breakdown below the daily Ichimoku Cloud.
A full trend reversal, potentially opening the door to the yellow support line, approximately 26% lower than current levels.

What Does Bitcoin Need for a Rebound?



For Bitcoin to rebound, it must break above the orange box resistance at 100700.

Why This Level Matters:
A breakout above this level would signify a trend reversal.
It would also push Bitcoin out of the Ichimoku Cloud on the daily chart, turning the cloud into a support zone rather than resistance.

Conclusion

Bitcoin has broken its long-term uptrend and the moving averages (20 EMA, 60 EMA) have shifted from support to resistance, indicating further downside risk.

Key Support Zone: 90200–85160.

If this zone holds, it could provide a strong foundation for a rebound.
If it breaks, Bitcoin will likely enter a prolonged bearish phase.

Currently, the trend is leaning bearish, and traders should keep a close watch on these critical levels to anticipate the next major move. 🚀