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Market Update Happy New Year! Bitcoin continues to struggle through the holiday season, with limited movement and low volatility. The key levels remain the same: Support at $92k: This level is crucial for any further retracements. It must hold for Bitcoin to maintain its current range or push higher. Resistance at $96k (4hr EMA200): This is the major hurdle. The strong rejection from the EMA200 yesterday emphasizes its importance. A break above this level could be the first indication of a move to the upside. For now, the market remains stagnant, and it’s essential to watch for a decisive break above $96k or a hold of $92k for potential direction in the coming days.
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#bitcoin yearly candle
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#HappyNewYearBinancians Up only mood
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Market Update Bitcoin remains in a holding pattern, fluctuating between $92k and $95k, with volatility likely to pick up as the yearly close approaches. The outlook hasn't changed much recently, and the key focus continues to be a potential breakout above the 4-hour EMA200, which sits around $96k. For now, the trading range this week is between $91.5k and $95k. It's a time to stay patient and watch closely for any shifts, as market action could accelerate with the closing of the year.
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Market Update Bitcoin continues to trade within a tight range, showing little volatility at the weekly open/close. At the moment, it's hovering around $93.8k, offering minimal clues for its next direction. This lack of movement is understandable given the holiday season, but traders should still keep an eye on a couple of key levels: 1. $96k – A test of this level, which aligns with the current hourly EMA200, could suggest a potential push higher. 2. $92.5k – A retest of last week's low could provide support and indicate a possible bounce. With the market in a consolidation phase, the price action around these levels will be crucial in determining Bitcoin's next move.
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