Bitcoin: Will 92K hold, again?

Mark O'Donnell
- Research Analyst -
January 9, 2025
CFD, Commodities, Forex, Gold, Trading Opportunities

Bitcoin may be forming a base at 92K after multiple tests since breaking above 100K.
Short-term upside momentum is possible, but resistance near 97,500–98,000 remains a key barrier.

Bitcoin appears to be moving in tandem with US tech stocks, posting falls and recoveries along a similar timeline.

The 92K level has now been tested on six separate occasions since price first exceeded $100,000, suggesting a potential base. Some market participants believe that further clarity on political factors—including Trump-related issues, tariffs, and a potential trade war—may be needed before this base can push toward 100K.

Following a substantial drop, the RSI points to possible near-term upside momentum. However, resistance at $97,500 to $98,000 may remain a key barrier.

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