January 14th Bitcoin trend is gradually becoming clearer. From a technical perspective, the three segments marked by the red line are worth paying attention to.

First segment: An upward guiding wedge from the low point, which can be understood as Wave 1 or Wave a gaining momentum. This pattern is quite rare. Then, a second oscillating correction occurs, ending around 90,852, which should be the end of Wave 2 or Wave b.

The current question is whether the third wave of upward movement can break through the resistance level of 98,009. If it follows the standard 1-2-3 wave pattern, then after the correction, it will continue upward; but if this is an abc corrective wave pattern, then the situation is different—once Wave c is completed, the rebound will be over, and the next step could be a larger decline.

Based on the current technical pattern, the latter probability is higher. That is to say, once this wave of rise ends, the next phase may look at levels below 75,000. Of course, technical analysis is ultimately a game of probabilities, and real trading should also incorporate proper capital management and risk control.