Bitcoin (BTC) Price Analysis for January 9
The market is neither bullish nor bearish today, according to CoinStats.
BTC/USD
The rate of Bitcoin (BTC) has gone up by 1.48% since yesterday.
On the hourly chart, the price of BTC has broken the local resistance at $91,397. If buyers can hold the gained initiative and keep the rate above that mark, the growth is likely to continue to the $92,000 zone tomorrow.
From the midterm point of view, the picture is less bullish. If bulls want to get back in the game, they need to restore the rate above the resistance at $94,652.
If they manage to do that, the accumulated energy might be enough for a test of the $100,000 area.
From the midterm point of view, the price of the main crypto has bounced off the resistance at $94,652. If the weekly bar closes far from it, there is a chance of seeing the $85,000 range by the end of the month.
Bitcoin is trading at $91,143 at press time.
