@hooiyewlim 15 January 2025 more from that month

Bitcoin Surges Back: A Swift Recovery from $90,000

Bitcoin managed to immediately recover after briefly touch $90,000 to now $97,000. What a crazy movement of price. Let's see what the chart say. **Technical Analysis:** **EMA Levels**: EMA(7): $95,940.80 EMA(25): $94,986.81 EMA(99): $95,748.59 Bitcoin is trading above all EMA levels, indicating strong bullish momentum in the short to long term. **Support and Resistance**: Resistance: $97,371 (24h high). Support: $94,346 (24h low), with a recent recovery from a significant dip to $89,256. **RSI**: RSI(6) is at 73.89, entering the overbought zone. This suggests potential resistance at higher levels but also confirms strong buying pressure. **Volume**: Increased trading volume during the recovery phase signals high market participation and confidence in the upward trend. **Moving Averages**: MA(5) and MA(10) are rising, signaling upward momentum. The price breaking past these levels further validates the bullish trend. **Conclusion:** Bitcoin has demonstrated a strong recovery from $90K to over $96K, breaking key resistance levels and sustaining momentum. However, overbought conditions could lead to short-term consolidation or minor pullbacks.