Key Insights:
- Bitcoin price is holding up well, but the next move depends on one key level. Traders wish to see a daily close above $98,000.
- So far, the largest cryptocurrency has not delivered a strong retest of that level.
- As a result, caution has crept in, even though the broader structure still looks constructive.
Bitcoin price is holding up well, but the next move depends on one key level. Traders want to see a daily close above $98,000. If BTC price does that, the rally may have more room to run. Some technical models still point to about 18% upside from here.
As BTC continues to approach a key area of resistance, traders say short-term momentum remains firmly bullish. They believe the trend is still pointing higher. That raises expectations of a strong continuation move if the market clears this crucial zone.
Bitcoin Price at Make-or-Break Level as Technicals Signal $113K Upside
Bitcoin’s path back to six figures now depends on clearing one major hurdle. BTC price must break above the $98,000 level, which aligns with the short-term holder cost basis. For traders, this zone has become the market’s most important test.
So far, Bitcoin has not delivered a strong retest of that level. As a result, caution has crept in, even though the broader structure still looks constructive.
According to Chris Beamish, the market is approaching a decisive moment. He explained that reclaiming the short-term holder cost basis would put recent buyers back in profit. That kind of move usually brings buyers back and keeps the rally going.
According to Michael van de Poppe, Bitcoin price could remain in an uptrend if it holds above the 21-day moving average near $91,200. In his view, keeping that support makes a push above $100,000 more realistic.
Mags also pointed to a fresh bounce from a long-term trendline on the weekly chart. That line has supported the price since March 2023. It has repeatedly drawn in buyers during pullbacks.
Bitcoin is now responding to that same support once again, showing that buyers are still stepping in at familiar levels. The response suggests long-term demand remains strong, leaving the market well-positioned for another push higher if resistance gives way.
That level has a strong track record. Each previous bounce from this support zone has led to a powerful rally, reinforcing its importance in the current market structure.
The pattern has played out before. They believe a similar setup could push Bitcoin/USD back into six-figure territory if resistance breaks. Their view is backed by steady whale buying, growing institutional interest, and stronger onchain data.
Bitcoin Ascending Triangle Signals Next Target
Bitcoin/USD is pushing into a familiar pressure zone. The daily chart shows price testing the horizontal resistance of an ascending triangle as consolidation tightens. Getting through that range would keep the move higher on track.
If they succeed, the structure of the pattern points toward a measured target near $113,200.
Technical analysts say the setup remains constructive. According to Matthew Hyland, BTC price is consolidating within an ascending triangle. The weekly chart continues to show a confirmed hidden bullish divergence. In his view, this combination favors higher prices.
That shift suggests growing strength without signs of excess.
According to Daan Crypto Trades, Bitcoin price is trading firmly but still has room to run. From his perspective, the market is far from overbought in the short term, leaving space for further upside if resistance gives way.
Source: https://www.thecoinrepublic.com/2026/01/17/bitcoin-price-setup-flashes-breakout-signal-targeting-113k-level/
