How Will Japan's Interest Rate Decision Affect Bitcoin?

We are in one of the most critical weeks for Bitcoin. Because Japan's interest rate decision will be announced on January 23rd. If an interest rate hike as expected occurs, Bitcoin may face selling pressure.

I have frequently stated that the $98K resistance level is important for the Bitcoin price. Because if there is a reversal from this resistance, the price will enter a downward trend without forming a new peak. Indeed, the price reversed from the $97950 level. What we need to pay attention to now is the $88450 trend. If the $BTC price operates below this trend, I will consider the main downtrend to have begun. This decline may continue horizontally-downwards to the $69K support level, which I have indicated with the blue horizontal line on the chart.

If there is an upward reversal from this trend, the price will go to the $102K-$110K range for the last time and continue into the bear market from there. The bottom of the bear market could be the $49K-$52K support level, which I have marked with the blue rising trend line on the chart, which has been in place since 2018. Hold on tight, the fall is coming. $BTC