On January 30, 2025, Bitcoin is showing signs of recovery after a significant crash that briefly pushed its price below $100,000. A TradingView analyst, TradingShot, reported that Bitcoin has formed a Double Bottom pattern, suggesting a potential rise to a new All-Time High (ATH) of $112,000.
This recovery follows a severe sell-off triggered by the rise of the AI model DeepSeek in the investment market. Despite the initial shock, Bitcoin has managed to recover over 50% of its losses quickly.
Currently, Bitcoin is testing a crucial support level at the 4-hour 200-Moving Average, indicating a potential trend reversal. If Bitcoin breaks above the 4H MA50, identified as a dynamic resistance level, it could continue its bullish momentum towards the projected ATH.
However, the analyst also warned of a bearish scenario if Bitcoin is rejected at the 4H MA50, predicting a possible drop to $98,000, with further declines expected if the downtrend continues.