On January 5th, Bitcoin briefly broke through the December 9th high but quickly retreated, followed by a volume-driven decline. This series of actions undoubtedly confirms the presence of strong resistance around 95,000.

However, after the pullback, Bitcoin did not fall apart; it stabilized in the support area and then rebounded upward, which also verifies that there is support around 90,000. Currently, Bitcoin is in a dilemma with resistance above and support below, and its short-term trend is full of uncertainty.

It is worth noting that from January 5th to January 7th, Bitcoin formed a Evening Star pattern, and from January 6th to January 9th, there was continuous volume increase, indicating that selling pressure in the market is relatively strong. From the perspective of volume and price relationship, if choosing a breakout direction, the possibility of Bitcoin breaking upward through resistance in the short term is relatively small, while the probability of a downward breakout is higher.

The crypto market is unpredictable, so everyone must operate cautiously. If you find the analysis useful, don’t forget to follow, bookmark, like, and comment. Let’s continue to monitor Bitcoin’s subsequent trend together!