Will BTC break $105k to reach $120k?

Bitcoin maintained a trading value of around $104,000 on January 25. The cryptocurrency launched at a high of $106,428 on January 24 before moderators reduced demand, causing it to decline slightly.

Bitcoin holds its support value near $100,000 and faces resistance at around $105,000. Looking at the $100,000 support area above will ensure that the bullish price trends continue. A sustained rally to $105,000 will open up further potential upside for Bitcoin. A price drop below $100,000 could send Bitcoin falling towards successive support areas at $92,000 and then to $87,000.

according to Coinglass liquidation data, Bitcoin has surpassed $36.03 million in the last 24 hours, showing a 34.34% increase. Long and short positions across Bitcoin markets Closely matched liquidation levels contributed, amounting to 49.96% of long trades and 50.04% of short trades. According to these statistics, the market appears volatile, which is a mixture of positive and negative market momentum.

Experts in this field have set targets for higher price predictions for Bitcoin. Cryptoanalysts predict Bitcoin’s near-term bullish momentum. They also believe that successful breakouts of key resistance areas could push Bitcoin prices to between $118,000 and $120,000. The future of Bitcoin will depend largely on how US policy regarding cryptocurrencies evolves and on larger macroeconomic factors.

Onchain indicators point to the “distribution area”

research On-chain analytics platform CryptoQuant, which published this analysis on January 24, provides evidence that Bitcoin may be nearing the end of its current bull market phase. The platform’s Index of Bitcoin Cycle Indicators (IBCI) shows Bitcoin entering what it describes as a “distribution zone,” which traditionally marks the peak of a market cycle.

Market analysts expect Bitcoin to reach $150,000 or more in 2025, although CryptoQuant’s on-chain assessment offers a more restrictive perspective. Seven on-chain indicators within the IBCI Composite monitor the evolution of the Bitcoin price cycle and identify significant market shifts between popular metrics such as Puell Multiple, Output Profit Amortized Ratio, and Net Unrealized Profit/Loss.

Gah’s research finds that Bitcoin “may be approaching a potential cycle peak, although it cannot provide full verification now.”

Guarantee him analysisTimothy Peterson, the network’s economist, studied the similarities between current market conditions and previous market cycles. Peterson’s recent X post showed an amazing 90% agreement between the current trend and the previous 250-day market cycle.

According to Peterson, the BTC/USD exchange rate may rise to $137,000 before falling below six figures, meaning a temporary market consolidation. Between optimistic forecasts and on-chain analysis, Bitcoin investors face great uncertainty regarding the future market momentum of their crypto assets.

Matrixport highlights seasonal trend

Data from crypto services platform Matrixport This indicates that Bitcoin’s performance has been consistent during the Chinese Spring Festival since 2009. The value of the digital currency has increased for 11 consecutive years with an 83% chance of positive results. This pattern has become among the most reliable time-based movements throughout Bitcoin’s history.

Bitcoin showed a strong performance during the recent Spring Festivals, growing by 26% and 23%, leading to an average increase of 21% during the holidays. According to analysts, Bitcoin prices rise during holiday periods because consumers show increased interest in Bitcoin products.

There are multiple conflicting market indicators in the Bitcoin economy today. The weekly market overview shows that Bitcoin is in the overbought zone. Meanwhile, reversal indicators showed oversold conditions last week, indicating potential support for the cryptocurrency. Market participants are watching carefully to determine whether the seasonal rise in Bitcoin prices will be repeated during the upcoming Spring Festival period.

Bitcoin price analysis

Technical indicators show that Bitcoin has given strong bullish signals at the time of writing. Bitcoin’s price is currently around $106,670, and Bitcoin’s daily trading range is between $104,544 and $106,740. The Relative Strength Index (RSI) is at 66.334, confirming buy signals in the market. The Stochastic Convergence Index (STOCH) is reaching 99.019 as an overbought zone, while the Moving Average Convergence Convergence (MACD) is offering a buy signal at 581.73.

Monitor moving averages across all time frames from short to medium to long term, matching a strong buy signal and attracting support. The pivot points reveal multiple important support points at $105,464, $105,262, and $104,913 alongside multiple resistance levels at $106,015, $106,365, and $106,566.

Current technical analysis shows that Bitcoin has a strong buying sentiment, indicating the possibility of a significant price rise in the market. The volatility of the cryptocurrency market requires investors to conduct extensive research on all available trading factors before taking any action