Bitcoin maintained pressure on a resistance level at the start of the Wall Street session on January 3. After reaching $97,000, Bitcoin sought to reclaim its 50-day simple moving average (SMA) at $96,740, which had previously served as support. Popular traders noted this movement, with warnings to manage risk due to potential resistance ahead. Concerns about market exuberance were highlighted by analysts, suggesting a price dip might be expected before another upward trend. The stochastic RSI indicated overbought conditions, prompting cautious optimism among traders. Additionally, key resistance levels such as the 200-period SMA on shorter timeframes were identified, with analysts advising that a break above $98K would signal a stronger bull run. Commentators like BitQuant advised patience, encouraging investors to buy during anticipated dips rather than panic selling. As Bitcoin neared significant resistance levels, observers recognized the dual nature of the market—both bullish momentum and potential for correction. Investors were encouraged to remain vigilant and conduct thorough research ahead of any trading decisions.

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