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Bitcoin High Timeframe Analysis - Mid-January Update
Looking at the daily and weekly charts for BTC, we're seeing some interesting price action around mid-January. The higher timeframes suggest traders should keep an eye on key resistance and support levels that formed earlier in the month.
On the 4H and daily, momentum indicators are worth monitoring as they often signal potential breakout or pullback scenarios. Supply zones remain critical for short-term sellers, while demand zones could provide entry opportunities for accumulation-minded participants.
The weekly structure shows us where the bigger trend remains intact. Whether we see consolidation or directional moves largely depends on how BTC respects these confluence zones in the coming sessions.
What's your take on the current setup? Are the higher timeframes painting a bullish or bearish picture for you?