10.01.202507:38 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of Bitcoin Cryptocurrency, Friday January 10, 2025.

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On the daily chart of the Bitcoin cryptocurrency, there appears to be a deviation between the price movement of the cryptocurrency and the MACD Histogram (osMA) indicator coupled with the appearance of the Failing Wedge pattern, so in the next few days Bitcoin has the potential to continue its strengthening to the level of 97876.42 or the middle Line of the Bullish Pitchfork Channel and 106394.85 as the next target if the strengthening momentum and volatility support it, but if on its way to these targets Bitcoin suddenly weakens again and closes below the level of 79845.24, then all the strengthening scenarios that have been described previously will be invalid and canceled by themselves.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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