January 16, Pancake Analysis
Currently, Bitcoin has not yet broken the 100,000 mark, and the four-hour chart shows a downward trend, with recent bullish candlesticks being engulfed.
Moving forward, I am more inclined to believe that Bitcoin may pull back to the 98,500/97,700 area, as these two positions are the main liquidation zones for bulls, at which point we can consider a bullish outlook.
The ideal scenario is for the bottom to stabilize around 97,000 before Friday, with the upper resistance level around 102,500.
