The recent dip of BTC to 29k area brought the price right in the support area on the weekly chart followedby decreasing . If the bull manage to paint this week's candle in green we can expect the continuation of rally or at least a good recovery until the resistance around ATH. This week will probably determine the further market mood.

On 29th of January I expect the resolution of the current uncertain situation. I am more on the side of the bullish scenario as no serious signs for opening short position were found so far. The Coinbase whales are accumulating Bitcoin during the past few days, Blackrock is getting into the business, Grayscale keeps buying non stop and so on. All these buys are made already but they are not reflected yet on the price chart. This could be considered as a proper correction after the parabolic run and we are in accumulation zone for second leg up. There is not much FUD in the media, opposite many good news. I guess only a black swan like in March 2020 could turn the markets down.

Image: cryptoquant.com