The recent price movements of Bitcoin have been volatile! On January 13, Bitcoin strongly rebounded from the support level of $90,900, showing that bulls are actively entering the market in the low price range. The current price has entered an upward trend line, which is a key battleground for both bulls and bears, and the subsequent trend is extremely important! Bitcoin is currently testing the upward trend line, which is an important resistance level. If the price falls back here, bears may become active again, driving the price down to the support level of $90,900.
In the short term, there are two possible price movements for Bitcoin: one is a pullback; if Bitcoin cannot break through the downward trend line, bears may seize this opportunity to apply pressure and test the support area of $90,900 again; the other is a breakout; if the price strongly breaks through the downward trend line, it means that bulls regain the advantage, and the subsequent price may rapidly rise to $102,724, or even reach the area of $108,353. If bulls continue to push the price above $108,353, market sentiment may further intensify, and the high point of $127,684 may become the next target.
In terms of operational strategy, if the Bitcoin price falls below the downward trend line, consider lightly shorting, targeting a price of $90,000, but be sure to set a stop-loss to prevent false breakouts. If the downward trend line is successfully broken, then follow the trend and go long, targeting successively at $102,724 and $108,353. Bitcoin is at a critical juncture, and once a directional breakout occurs, it may trigger a significant market movement. Be sure to be flexible in your operations; follow the trend if there is a breakout, and hold back if there is a pullback, do not go against the trend!
