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As of January 9, 2025, the trading price of BTC (BTC) is approximately $94,870, a decrease of about 2.20% from the previous trading day.
Technical analysis shows bearish trends in multiple time frames:
15-minute time frame: The breakthrough of horizontal support line and the bearish price crossover of adaptive moving average line indicate a bearish outlook.
1-hour timeframe: The channel support has been broken, and the price has fallen below the pivot point, indicating a possible further decline.
Daily timeframe: Indicators such as MACD crossing below its moving average and momentum turning negative have reinforced bearish sentiment.
The determination of support and resistance levels is as follows:
Support levels: $97,500, $97,000 and $96,500.
Resistance levels: $98,500, $99,000 and $99,500.
In addition, as of 4:45 a.m. on January 7, 2025, the BTC investor signal has turned to 'buy zone', indicating that the BTC price is considered oversold.
Please note that the cryptocurrency market is highly volatile, and trading signals may change rapidly. It is very important to conduct thorough research and consider your risk tolerance before making any trading decisions.