CandleFocus Bitcoin (BTC) Price Prediction for January 16
2025-01-16
Author: Content Editor
The overall crypto market is experiencing positive movement, with most coins trading in the green zone. The price of Bitcoin has remained relatively stable, hovering near the support level of $98,557 on the hourly chart. If this support level is broken, there may be a test of the $98,000 range in the near future. Bulls have been unable to sustain the upward momentum from yesterday, and if today's candle closes far from the $100,000 area, bears may take control and the price could drop to the $97,000 zone soon. The weekly bar's closure is crucial, as if it happens around or above the $100,000 mark, there may be enough energy for a move towards the resistance level of $105,374. Currently, Bitcoin is trading at $99,249.
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