
Bitcoin is currently consolidating between $100,000 and $109,588, signaling a potential for an upside breakout. Despite facing resistance near its all-time high, bulls have maintained their positions, suggesting optimism for continued upward momentum. MicroStrategy, a major corporate Bitcoin holder, recently acquired 11,000 bitcoins between January 13 and January 20, at an average price of $101,191, marking its largest purchase so far in 2025. Analysts, including Markus Thielen of 10x Research, remain optimistic, projecting a rise in Bitcoin’s price, potentially reaching $122,000 by February.
The Bitcoin market is at a crossroads, whether it will break above $109,588 or dip below $100,000. Meanwhile, altcoins are exhibiting mixed signals.
Ether is trading between the 50-day simple moving average and the neckline of a head-and-shoulders pattern. A break below the neckline could lead to a drop to $2,850, while a rise above the 50-day SMA may propel it to $3,745.
XRP failed to surpass the $3.40 resistance, indicating potential consolidation between $2.91 and $3.40. A break above could push it to $4, while a slip below could see it drop to $2.
BNB finds support at its uptrend line, with neutral indicators. A rise above the moving averages may take it to $745, while a fall below could drop it to $635.
Solana rebounded off its 50% Fibonacci retracement level, and sustaining above $260 could see it retest its all-time high of $295. A break below $232 may plunge it to $169.
Dogecoin saw selling pressure after a brief rise, suggesting equilibrium between supply and demand. A break below the moving averages may lead it to $0.27, while a rebound could challenge the channel’s resistance.
Cardano bounced off its uptrend line but faces resistance at the moving averages. A break below its uptrend line might take it to $0.76, while a rally above could extend to $1.33.
Avalanche has remained range-bound, signaling buying on dips and selling on rallies. A break above $45.05 could lead to a surge, while a dip below $32.31 could drop it to $27.
Stellar held above the 50-day SMA but faces resistance at the 20-day EMA. A break below $0.39 may test $0.31, whereas a rebound could push it to the resistance zone of $0.61 to $0.64.
Sui is descending within a channel, with potential support at its lower boundary. A sustained rebound may keep it in the channel, while a break above could lead to $5.82. Conversely, a downturn could drop it to $3.50.
The market remains volatile, emphasizing the need for investors to conduct thorough research and exercise caution in their trading decisions.