See also
20.01.2025 04:20 AM
Last year, the bulls clearly had the upper hand, achieving significant advantages and accomplishments. In 2024, they reached a new all-time high of $108,362.36, surpassing the previous peak of $68,959.73 set in 2021. This new high was achieved in December 2024, after which Bitcoin entered a phase of corrective consolidation, trying to explore previously uncharted historical territory.
Currently, the primary target for buyers is the $108,362.36 level, with psychological milestones such as $110,000.00 also becoming a focal point. On the other hand, sellers are concentrating on support levels from various timeframes, which are converging around $100,018.60, $99,375.98, $98,684.90, $97,396.23, and $95,416.47. These levels include the upper boundary of the daily Ichimoku cloud, the weekly short-term trend, and the daily Ichimoku cross.
On lower timeframes, buyers currently have the primary advantage. In the most recent upward movement, bulls successfully broke through the H4 Ichimoku cloud at 104,877.13. Although the initial attempt to surpass this level was unsuccessful, Bitcoin entered a corrective decline. Today, bulls are making a second attempt to break above 104,877.13 and continue their ascent.
Intraday bullish targets include R2 at 106,406.76 and R3 at 107,851.39. If there is a pullback, potential support levels based on classic Pivot Points are 103,687.66, 102,413.19, 100,968.56, and 99,694.09, with a long-term weekly trend at 100,752.35.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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