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**Bitcoin (BTC) Price Prediction for January 20**
As the crypto market is experiencing a slight rebound after yesterday’s correction, I want to share my updated views on the current Bitcoin price. Please note that these predictions are based on technical analysis and should not be taken as investment advice.
Currently, BTC is trading at $106,512. Considering recent fluctuations, it appears that we have formed an inverse head and shoulders pattern on the 4-hour chart. This formation suggests a potential break above the resistance level around $110,000 – $112,000.
If this breakout occurs, I believe Bitcoin will continue to rise towards new highs. However, if the price retests the lower trend line (around $96,000), we might see another correction before a more significant move upwards.
It’s essential to note that the global market is still volatile and unpredictable, so these predictions should be taken with a grain of salt. The cryptocurrency market can change rapidly, and even experienced traders cannot always predict price movements accurately.
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Source: u.today
