Technical analysis by Jahson23 about Symbol BTC on 1/11/2025

Market Structure: Ranging.Key Levels:-Weekly High: 102811.3-Weekly Resistance: 98405.1-Weekly Low: 91914.31-Weekly Support: 93500.20From the data above we can see that Bitcoin has been trading within the price range of 102811.3k and 91900k levels. Looking at such a price action, this is not very good for Bitcoin. But if we look closely at the price action we can see that Bitcoin has taken out December low which is quite interesting as we can see a push to the upside.Though this is not enough reasons for us to start looking for buy opportunities, but we should stay inline with what the market is telling us.Technically if we look at some of the technical indicators like the MACD and the Moving Averages, the weekly MACD is reducing momentum to the downside which is not good for Bitcoin as we should expect some more Bearish movement for Bitcoin, also if we looking at the Moving Averages 50/100, the 50MA is at the 69276k price levels and the 100MA is at the 50161k price levels respectfully. All this information are not very good for Bitcoin as we should be expecting a drop in price of Bitcoin.If we should go further looking at the CME Bitcoin chart link belowhttps://www.tradingdigits.io/cmeGapWe can see that there is a gap between the 85k and the 75k levels which is very concerning for Bitcoin. Also we should not forget there are some high impact economic events coming up next week as you can see from the link below.https://www.forexfactory.com/..This is not a Financial Advice so please do your own research. Thank you for reading.SAFE TRADING TO EVERYONE.PLEASE DON'T FORGET TO#FOLLOW MY PAGE#BOOST #LIKE AND SHARE.