BTC Update: Caution in the Air Ahead of Inauguration DayBitcoin took a hit leading into tomorrow’s inauguration, currently hovering around $101K, showing signs of downward momentum after failing to secure a new all-time high. The market's hesitation is clear, and for now, it’s all about watching and waiting.
In my last breakdown, I emphasized the importance of sticking to what the charts are telling us. We had been printing lower highs and lower lows, signaling bearish structure—until this weekend. Now, we’ve made a higher high, which could indicate a shift, but we’re not out of the woods yet. The key confirmation? A higher low, which we still need to see before calling a trend reversal.
Current Game Plan:
🔸 No trade zone for now—patience is key.
🔸 A confirmed break below the red zone? That’s a short setup.
🔸 Holding above it? A long opportunity targeting the trendline resistance.
Stay sharp, follow the levels, and let price action guide your next move
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.