Bitcoin Tests $100K Support Amid Market Uncertainty

Traders Eye Sub-$100K Targets
Breakout Signals on the Horizon?

Bitcoin (BTC) retested the $100,000 support level on January 21, following volatility from U.S. President Donald Trump’s inauguration. Despite market speculation, Trump made no mention of Bitcoin or crypto policies, leaving investors uncertain about future price movements.

Traders Eye Sub-$100K Targets

Following the event, long positions suffered, with over $500 million in crypto long liquidations, per CoinGlass data. Analysts predict further downside pressure, with BTC potentially dipping into the mid-to-high $90,000 range.

Crypto trader Crypto Chase suggested taking long positions around $99,500, provided key support holds. Meanwhile, trader XO emphasized that Bitcoin remains within its December range, between $90K and $108K, and will likely break into a new trend upon exiting this range.

Breakout Signals on the Horizon?

Market analysts are closely watching Bitcoin’s 10-day simple moving average (SMA), currently at $99,969. Matthew Hyland pointed out that BTC tested this level before hitting a new all-time high, only to pull back again.

Further adding to market anticipation, James Check highlighted Bitcoin’s Choppiness Index, which signals the end of sideways movement, hinting at an impending major price trend.

With Bitcoin at a critical juncture, traders remain cautiously optimistic, awaiting a decisive breakout in the coming days.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Bitcoin Tests $100K

Sujit Kumar

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.