{"id":52394,"date":"2025-01-23T01:38:00","date_gmt":"2025-01-23T01:38:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/watch-these-bitcoin-price-levels-next-with-door-open-100k-retest"},"modified":"2025-01-23T04:22:51","modified_gmt":"2025-01-23T04:22:51","slug":"watch-these-bitcoin-price-levels-next-with-door-open-to-100k-retest","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=52394","title":{"rendered":"Watch these Bitcoin price levels next with 'door open' to $100K retest"},"content":{"rendered":"

Bitcoin came within striking distance of new all-time highs on Jan. 22, but now \u201cthe door is open\u201d to a 5% drop.<\/p>\n

Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin (BTC) price action is within a critical range, and market observers have key support levels ready.<\/p>\n

Spotlight on $100,000 BTC price support<\/h2>\n

For Keith Alan, co-founder of trading resource Material Indicators, it is all about $100,000.<\/p>\n

In the short term, that level is arguably the most attractive downside target thanks to a wall of bid liquidity supporting it being removed.<\/p>\n

A chart of liquidity conditions on Binance uploaded to X on Jan. 22 puts the likelihood of a support retest firmly in perspective.<\/p>\n

\u201cThe door to retest $100k is open,\u201d Alan summarized.<\/p>\n

\"\"
BTC\/USDT liquidity data for Binance. Source: Keith Alan\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

The chart additionally shows how comparatively thin bid liquidity is compared to the sell wall above the spot price at $110,000, now the major hurdle for bulls to overcome.<\/p>\n

That level has not gone unnoticed within trading circles, with commentator Bitcoin Munger identifying it as a selling target for Bitcoin whales.<\/p>\n

Bitcoin needs to print higher daily closes<\/h2>\n

Looking above, trader and analyst Rekt Capital sees BTC\/USD in a narrower range, but with breakout signal levels nearby.<\/p>\n

On daily timeframes, a \u201cconfluent support area\u201d around $100,000 is still valid, while a push beyond $106,000 is all that is needed to set up a run at all-time highs.<\/p>\n

\u201cThe confluent support area (green circle) has indeed acted as a floor that has enabled consolidation within the $101k-$106k range. Bitcoin is once again challenging the Range High for a breakout attempt from the range,\u201d he said in an X post on Jan. 21.<\/p>\n

\u201cDaily Close above the $106k resistance followed by a post-breakout retest could enable a historic move to new All Time Highs.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USD 1-day chart. Source: Rekt Capital\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

A large range comes courtesy of fellow trader Daan Crypto Trades, who likewise sees price discovery entering should BTC\/USD start printing daily candle closes above $108,000.<\/p>\n

\u201cThink most are better off just waiting patiently until this either sweeps the range high\/low again or if we go full on price discovery mode,\u201d he wrote in accompanying commentary.<\/p>\n

\u201cLikely choppy until then.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USDT perpetual swaps 1-day chart. Source: Daan Crypto Trades\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

\u201cLooking good so far\u201d<\/h2>\n

Offering a hopeful short-term outlook, Patric H, the analyst known as Cryptelligence on X, shows key technical levels being preserved.<\/p>\n

Related: <\/strong><\/em>Trump ‘plunge protection’ \u2014 5 things to know in Bitcoin this week<\/strong><\/em><\/p>\n

These include the point of control, or PoC, of Bitcoin\u2019s weekly range, currently around $103,000.<\/p>\n

Patric H added that, per Elliott Wave theory, Bitcoin\u2019s latest low-timeframe correction should be complete. \u201cIt’s looking good so far,\u201d he concluded.<\/p>\n

\u201cThe corrective wave 4 seems to be finished for $BTC and the Altcoins market. Bitcoin is trading well above the local POC, suggesting a bullish continuation.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USD 1-week chart. Source: Patric H\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin came within striking distance of new all-time highs on Jan. 22, but now \u201cthe door is open\u201d to a 5% drop. Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin (BTC) price action … Watch these Bitcoin price levels next with 'door open' to $100K retest<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":52395,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-52394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nWatch these Bitcoin price levels next with 'door open' to $100K retest - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=52394\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Watch these Bitcoin price levels next with 'door open' to $100K retest - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin came within striking distance of new all-time highs on Jan. 22, but now \u201cthe door is open\u201d to a 5% drop. 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