BTC reached a critical level of 9040 on January 10th. The next move depends on whether it can hold this position.
If this level can be maintained, there is potential for a rebound and further upward exploration; conversely, if it continues to break down, it may face a deeper correction, possibly testing the important support at 80,000.
Honestly, from the high of 9470 to the current trend, there are many signs indicating that this rally might be a false breakout. On the technical side, two clear warning signals can be observed—one is the pattern issue, and the other is the lack of volume support. These details determine whether the trend will continue to rise or if increased caution is needed.
Of course, this analysis contains some subjective elements. Everyone can make their own judgment based on their situation.
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BTC reached a critical level of 9040 on January 10th. The next move depends on whether it can hold this position.
If this level can be maintained, there is potential for a rebound and further upward exploration; conversely, if it continues to break down, it may face a deeper correction, possibly testing the important support at 80,000.
Honestly, from the high of 9470 to the current trend, there are many signs indicating that this rally might be a false breakout. On the technical side, two clear warning signals can be observed—one is the pattern issue, and the other is the lack of volume support. These details determine whether the trend will continue to rise or if increased caution is needed.
Of course, this analysis contains some subjective elements. Everyone can make their own judgment based on their situation.