In the first week of January 2024, BTC saw a pullback of nearly 10% from the break of the ascending broadening wedge pattern. As we approach January 2025, we sit at a similar inflection point. A 10% drop would place BTC around 86k. While nothing says we have to break this pattern to the downside, the recent price action has been bouncing against the support of this wedge pattern, losing upside momentum each time. Certainly, it is a key area to watch moving into the new year. Speaking of which, Happy New Year to everyone watching this market unfold. I hope 2025 brings prosperity and joy to you all!
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