Bitcoin & Macro Market Analysis - January 20th

$BTC/USDT, Daily chart.

EMA200 is lower than the candle bar move. This is good.

The candle bar finally made bull breakout against the thick white bear trend line.

Based on this, we can consider that candle bar move is forming falling wedge pattern or consolidation pattern.

Either scenario, the next price target after this break out will be $116,000 to $117,700 as I marked in the green rectangle.

But, before reaching the price level, the previous ATH at $108,000 will be a strong resistance line.

Currently, I suppose in President Trump Augmentation Ceremony on Monday, he mentions about his Crypto and AI policy including BTC Strategic Asset Reserve.

And this news will support the price breakout of the previous ATH.

For more detail:
https://orblabs.ventures/106198/

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