Bitcoin (BTC) currently trades at approximately $94,982, teasing the pivotal $100,000 level. By leveraging the Gann Square and logarithmic scale, traders project potential breakthroughs or corrections.
The Gann Square Perspective: Angles in Play
Gann Square projections, a favorite tool among technical analysts, outline significant price-action levels. The BTC rally nearing the upper green band aligns with $110,000. However, a 3.40% decline this week suggests consolidation. Historical patterns confirm BTC adheres to these angular trends, indicating either consolidation towards $78,000 or continued ascent to six-digit figures.
Macro Insights and Logarithmic Scaling
The logarithmic scale highlights Bitcoin's consistent growth through cycles. Key support zones at around $64,000 remain strong for long-term bulls, while risks extend towards $48,000, marked by Gann fan's blue arcs should market sentiment decline.
Market Psychology and Investor Sentiment
Bitcoin's cyclical nature keeps traders alert. Intraday trading decisions may hinge on macroeconomic factors like inflation data. The Bitcoin fear and greed index swings between optimism and caution, reflecting market indecision.
The first quarter of 2025 is crucial for Bitcoin's trajectory. If BTC maintains its ascending angle and tests the $100,000 resistance, the prospects for a new bull run increase significantly.
