Currently, #BTC is in a sideways range. After reaching its ATH at $108,353, the price entered a correction and moved toward the lower boundary of the range at $91,879. Since then, the price has started moving upward, signaling a bullish trend 📈
I expect the upward movement to continue toward the 0.5 - 0.618 Fibonacci levels. These levels are often used by traders, including myself, to identify potential entry and exit points
However, before that, we could see a pullback to the mirror level (previously broken resistance, now acting as support) for a retest and confirmation of structure around $97,500
This week, there are also important economic events that could impact the crypto market: January 10: Nonfarm Payrolls and unemployment rate data in the US for December. These reports could significantly affect financial markets, especially risk assets like cryptocurrencies. Personally, I expect a positive labor market report on Friday, which could have a positive impact on the crypto market 🚀
To put it simply and clearly: I’m expecting #BTC to reach $102,000 - $104,000, with a potential correction to $97,500
The scenario of a correction to $89,000 - $88,000 is still relevant, but for now, I’m focusing on the current week’s perspective for #BTC
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