The post Bitcoin price prediction – Mapping BTC’s next target after $102K falls appeared on BitcoinEthereumNews.com.

BTC topped $102k on the charts, but will it climb higher into the weekend?  Options traders expect massive upside price swings into the weekend Bitcoin [BTC] reclaimed $102k on the price charts again, ahead of Donald Trump’s presidential inauguration on 20 January.  The upswing elevated BTC’s price action above key moving averages and reinforced a strong bullish outlook. With less than a few days to go for the inauguration, the question is this – Which direction will the cryptocurrency take now? Will Bitcoin extend its rally? Source: BTC/USDT, TradingView On the daily chart, it broke out above $100k and retested it as support, further confirming the likely extension of the uptrend. This differed from the previous surge to $102k on 6 January – A deviation from the $100k before the price sharply retreated.  The immediate bullish target would be the supply zone and bearish order block $105K-$108K (red). If the $108k resistance is cleared, the next key level would be at $122k. With the daily RSI far from flagging an overheated market, the recovery could extend itself.  However, the latest move to $102k didn’t record much uptick in trading volume—A slight caution to bulls. In a reversal scenario, $100k, moving averages ($97k/$95k), or even the range-low at $90k could be key levels to watch.  Liquidity grab to $103.5k? Source: Coinglass Additionally, Coinglass’s liquidation heatmap suggested that BTC could tap $103.5k – A key liquidity cluster that could act as a price magnet. On the lower side, $100.5k and $98.8k had some liquidity pockets, too, and could attract the price. Especially during downside moves.  In short, the aforementioned levels could be hit in a liquidity grab-driven rally. However, with flat liquidity above $103k, a short squeeze above it could accelerate the price to the $105k-$108k target or higher. That being said,…

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Filed under: News - @ January 17, 2025 11:21 pm