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January 12th Bitcoin Market Outlook
The current price has broken above the middle band of the Bollinger Bands, and the lower band of the Bollinger Bands has formed a short-term support. After pulling back to the lower band, it rebounded, indicating that buying pressure below is beginning to show, which is a bullish technical signal.
Previously, BTC surged high and then retraced. Currently, it has completed a consolidation above the key level without breaking the critical support zone. This is a correction within an upward trend, and the overall major trend remains bullish.
Bitcoin Trading Suggestions: Pull back to around 90,800-90,200, then look for an upward move towards 92,000-93,500. If broken, continue to look higher.