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January 17 Bitcoin Market Outlook
The current price is operating near the lower band of the Bollinger Bands, with the lower band providing a clear support level.
- Recently, after a pullback, the price did not break below the lower band, indicating strong buying pressure below.
- The space between the middle and lower bands offers potential for a rebound; if the price stabilizes above the middle band, it may challenge the upper band later on.
Bitcoin trading suggestion: After a pullback to around 95,000-94,500, consider buying; target upward movement towards 95,800-96,500.