BTC MARKET UPDATE 09.JAN.2025

Good morning, traders! Welcome to your daily Bitcoin market update. Today is January 9th, 2025, and the current BTC/USD price stands at $94,532. Let's dive into today's key insights.

Starting with the technical trend, Bitcoin remains bullish on the daily chart. The 50-day moving average is still above the 200-day moving average, reinforcing the long-term upward trend. However, RSI indicates overbought conditions, hinting at potential short-term corrections.

Looking at on-chain metrics, whale activity shows strong accumulation zones around $67,000 and $55,000. Whale wallets have increased their holdings by 3% over the past week, signaling confidence in higher prices. Additionally, exchange outflows have surpassed inflows, indicating reduced selling pressure from retail investors.

Switching to order flow analysis, there is significant buying interest near $92,000, with aggregated heatmaps highlighting major support zones. Meanwhile, sell walls at $100,000 and $106,000 suggest resistance levels where we might see increased profit-taking activity.

Our Cycle analysis indicates that Bitcoin is nearing a critical crossover point. Historically, these crossovers have preceded major price movements. The projected crossover supports the case for a potential run toward $157,000, aligning with our Elliott Wave Wave 5 projection.

Speaking of Elliott Waves, the Wave 5 projection suggests a potential high near $157,631. However, retracements to $67,000 or $55,000 are possible as part of consolidation before the next leg up.

In terms of Wyckoff phases, Bitcoin is firmly in a Markup Phase, characterized by steady upward movement. We anticipate testing the resistance zones as we approach a distribution phase in the coming weeks.

Finally, our planetary cycle analysis, based on the Venus-Uranus heliocentric 9-hour cycle, is currently in a Neutral Phase. While it doesn’t indicate a strong directional bias today, it supports the broader bullish outlook.

To summarize, Bitcoin's long-term trend remains bullish, with potential for Wave 5 targeting $157,631. On-chain data and whale activity support accumulation near $67,000 and $55,000. Keep an eye on $82,000 and $106,000 as key resistance levels for potential profit-taking.

Thanks for tuning in to your daily BTC market update! Don’t forget to like, subscribe, and hit the notification bell for tomorrow’s insights. Happy trading, and see you soon!