Bitcoin Price Could Attempt A Breakout To $104,000 — Here’s How
The post Bitcoin Price Could Attempt A Breakout To $104,000 — Here’s How appeared on BitcoinEthereumNews.com.
Bitcoin is up about 3% over the past few sessions, but the price action is sending mixed signals. While the broader structure still looks bullish, a pause now looks likely. That pause may frustrate bulls in the short term, but it could also complete a pattern that sets up a much larger move higher. A potential cup-and-handle formation is taking shape on the daily chart. If it plays out fully, Bitcoin’s next move may be less about speed and more about structure. A Consolidation Looks Likely? Bitcoin’s recent structure resembles a rounded bottom, which forms the “cup” in a cup-and-handle pattern. This pattern appears when the price slowly recovers from a sell-off, stabilizes, and then pauses before the next breakout. Sponsored Sponsored The latest daily candle closed green but with a long upper wick. That matters. Long wicks show sellers are active at higher levels, even if the price closes higher. This often marks the start of consolidation rather than continuation. The consolidation, if it happens, could complete the handle formation as well. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Bullish Pattern: TradingView On-chain data supports this pause. Hodler Net Position Change, which tracks whether long-term holders are accumulating or selling Bitcoin, shows buying has resumed but remains cautious. Since December 26, hodlers have consistently added BTC. However, the recent buying peak on January 4 was about 12,349 BTC. That is nearly 93% lower than the late-November selling peak of roughly 185,451 BTC. Quiet HODLers: Glassnode In simple terms, hodlers are buying again, but without urgency. That behavior aligns with a handle forming, not an immediate breakout. Sponsored Sponsored Derivatives positioning also argues for consolidation. On the Binance BTC/USDT perpetual liquidation map, long liquidation leverage sits near $2.24 billion, while short liquidation leverage…
Filed under: News - @ January 5, 2026 6:13 am