🚀 BTC Technical Update: Bulls Eyeing the $98K Target?
Bitcoin is currently testing critical structural levels as it transitions into a higher-high/higher-low (HH-HL) rhythm on the mid-term charts. After a strong impulsive move earlier in January, we are seeing a corrective phase that will determine the next major leg.
$BTC 📊 Key Levels to Watch:
Current Price: Consolidating around $95,063.
Immediate Support: $93,500. As long as we hold above this zone, the bullish structure remains intact.
$BTC Upside Targets: * 🎯 Target 1: $96,525 (Local Resistance).
🎯 Target 2: $98,128 (Major Psychological Resistance).
💡 Analysis Summary:
$BTC The current pullback toward the $93.5k - $94k demand zone appears to be healthy profit-taking rather than aggressive selling pressure. A successful bounce from this support could trigger a fresh rally toward the three-month high near $98,000.
⚠️ Risk Note: A 4-hour candle close below $93,500 would invalidate this short-term bullish setup, potentially leading to a deeper retracement toward $89,000.
Will we see $100K by February? 📉 Prediction markets currently show only a ~6% probability of hitting six figures before month-end, suggesting a period of consolidation may be ahead.
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