Bitcoin has recently experienced a deep V reversal, influenced by U.S. Treasury yields and ETF outflows.
The incoming administration may promote favorable regulatory policies for cryptocurrencies, limiting further declines.
Short-term technical analysis shows that Bitcoin is facing correction pressure, suggesting a focus on short positions with some long positions.
btc
Buy short near 97200-98200
Stop loss at 989900
Take profit target around 95000-94300
