BTC is in a decision-making phase

Jan 26

Bitcoin is trending upward, with prices rising from about 90,000 USDT all the way to nearly 105,000 USDT. Since late January, Bitcoin prices are entering a converging triangle area. The area is limited by a descending trend line above and a support line below. The current performance of the market shows that price fluctuations are getting smaller and smaller, indicating that market participants are waiting for a clear breakout signal.

Support level: 91,361.70 USDT below, representing the recent low, this price has become a key support area. If Bitcoin prices fall below this support level, they may face greater downward pressure and even test lower support areas.
Resistance level: 107,813.12 USDT above the price is the main resistance level, forming the upper boundary of the current triangle consolidation. If Bitcoin prices break through this resistance level, it will be possible to launch a new upward wave again.

Currently, the price fluctuates above and below a gradually rising trend line, which is a typical triangle consolidation. In this form, the price usually enters a contraction range, and the fluctuation range gradually becomes smaller. At this point, we will closely watch whether the price breaks through the upper resistance line or falls below the lower support line. A breakout in either direction could bring a strong market reaction.

If Bitcoin breaks through the upper triangle resistance line of 107,813USDT, it may retest and break through the upper high, pushing the price to a higher area, with the target possibly close to 112,000 USDT or even higher.
If Bitcoin falls below the lower support line of 91,361.70 USDT, a strong downward trend may form, and the price may pull back to 90,000 USDT or even lower.

Overall, the current market pattern shows a typical triangle consolidation pattern, which means that Bitcoin may continue to consolidate in the short term until it breaks through the key price above or below.

Jan 27

Trade active

After BTC broke below 100,000, it probed the upper edge of the previous triangle structure at 97,700 support. After the short-term volume increase, the trend entered the adjustment stage. If the subsequent correction cannot stabilize above 102,000, BTC will return to a wide range trend again.
Short-term support is at 97,700.
Short-term resistance is at 102,000.
At this point, BTC sell orders will be withdrawn first. Wait for the upper adjustment and strong pressure to form again before making arrangements.