Bitcoin ‘Fully Gassed’ To Leave 100K BTC Price Behind – Analysis

Bitcoin tested the $100,000 support on January 21, as the dust settled on the inauguration of US President Donald Trump.

BTC price targets focus below $100,000

Data from Cointelegraph Markets Pro and TradingView showed sellers continuing to pressure the six-figure Bitcoin (BTC) price range.

Inauguration Day offered plenty of volatility, but ultimately disappointed Trump as he said nothing about Bitcoin, crypto, or America's strategic reserve.

Longs suffered on the day, with 24-hour crypto-long liquidity circulating $500 million at the time of writing, according to data from tracking resource CoinGlass.

Trading platform HighBlock Capital wrote in part in its latest update on X that “$BTC is targeting liquidity near both sides.”

Traders entertained the idea of ​​another liquidity move in the next range up to $90,000.

“I'll take longer than 99.5k~ if offered. I think it makes sense for the gray box to clean up the environmental atrocities and all the Trump leadership/news,” said trader Crypto Chase with a 4-hour chart to X followers.

I also accept the 97K minimum sweep, but that's too far to go. A good while past 96-97k and my plan/reading is gone. Small 90's inval, aimed at new ATHs.

Affiliate trader XO December BTC price range is still in control, argued for a low of $90,000 and a high of $108,000.

“The December high and December low define a key range for me. Acceptance from both sides will be resolved in the trend, he said.

“For now, the market has both bulls and bears speculating, but really, it's another region and that's where my focus remains.”

Bitcoin “Choppiness Index” suggests separation

Trader and analyst Matthew Hyland emphasized the recent importance of Bitcoin's 10-day simple moving average (SMA), which is currently at $99,969.

Related: $9Trump'p ‘plunge protect'on' — 5 things to know in Bitcoin this week

“BTC is a daily candle here. It hit the 10 SMA and then to a new all-time high and then back below resistance but still above the 10 SMA,” he told X Followers.

“It should be decided by Friday whether to go back up in this direction of the 10 SMA or lose the 10 SMA.”

In a new update, James Check, creator of onchain data source Checkonchain, predicted a new BTC price trend without delay.

Thanks to the Chopinness Index, this is a dynamic tool that indicates the end of a sideways move.

“The Bitcoin Choppiness Index is fully gassed, and ready to be viewed,” Cheek announced on the day.

“As covered in late November, the theory is that we'll probably have several weeks of chopsolidation before we actually break out of the $100k level. We are there.”

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.