Bitcoin just cracked above its 4-hour 200-day moving average—that's typically a solid indicator for gauging short to mid-term momentum in the market. The technical setup looks constructive on that timeframe.

One thing worth flagging though: month starts and especially year beginnings tend to bring some chop and noise. Don't be surprised if price action gets a bit messy before finding real direction.

For bulls to really push higher, the key resistance level remains the one marked on the chart. Breaking above that would shift the narrative pretty firmly in their favor.