Bitcoin and the Endless Game! - Article Sponsored by CloseOption Broker.

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       Bitcoin and the Endless Game! - Article Sponsored by CloseOption Broker.

 

The key support and resistance level ahead for Bitcoin is as follows:
 
• Third Key resistance level of Bitcoin: 109900
• Second Key resistance level of Bitcoin: 108000
• First key resistance level of Bitcoin: 106500
• First key support level of Bitcoin: 101700
• Second Key support level of Bitcoin: 100000
• Third Key support level of Bitcoin: 97700
 
Bitcoin and the Endless Game!

As mentioned in the previous analysis of the crypto market leader, Bitcoin, dated 2025.01.14, there was potential for an upward move toward $99,500, $102,700, and ultimately $108,000, precisely targeted by buyers.

The dominant trend in long-term timeframes, such as monthly and weekly, remains bullish. However, the first signs (albeit weak so far) of the uptrend losing momentum and the potential formation of a price peak are emerging on the chart, which could challenge the continuation of the upward trend.

The formation of the Shooting Star candlestick pattern on the monthly chart, a Spinning Top on the weekly chart, and the inability to break through the critical resistance level of $108,000 last week have made conditions more challenging for buyers.

Under the current conditions, based on technical analysis, if the support level at $101,700 is breached, the price can correct and drop to the support level of $100,000 and further to $97,700. Since no significant negative fundamental factor exists in the Bitcoin market, corrections may be weak or take the form of a sideways range.
In the alternative scenario of upward movements, if the key level of $106,500 is broken and prices stabilize above it, there is potential for further growth toward the resistance levels of $108,000 and, in the next step, $109,900.
 
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