Cointime

Cointime

Download App
iOS & Android

Bitcoin traders see $122K in weeks as BTC price breakout looms

Cointime Official

From cointelegraph by William Suberg

Bitcoin closed in on new monthly highs on Jan. 19 as traders braced for the return of BTC price discovery.

BTC/USD 1-day chart. Source: Cointelegraph/TradingView

Bitcoin all-time highs expected “pretty soon”

Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD was nearing $105,500 on Bitstamp ahead of the weekly close.

Up around 12% month-to-date, Bitcoin looked increasingly attractive to longs with just one day to go until the inauguration of US President-elect Donald Trump.

Trump’s controversial memecoin, OFFICIAL TRUMP (TRUMP), passed $11 billion in market cap on the day, entering the top twenty largest cryptocurrencies.

Amid a broadly positive outlook for crypto, traders began to eye new records.

“$BTC ath incoming pretty soon imo,” popular trader Pentoshi predicted in one of his latest posts on X.

Crypto trader Moataz Elsayed, known as Eljaboom on X, described Bitcoin as entering the “belief phase” of its current price cycle.

“$150K Bitcoin will happen this cycle,” he told X followers alongside a chart comparing BTC price action now and four years ago.

BTC/USDT comparison. Source: Eljaboom/X

Fellow trader Daan Crypto Trades nonetheless acknowledged the need to hold one significant support zone going into the weekly close.

“$BTC Clean retest of the prior yearly high,” his latest market analysis read. 

“Looks good for a move to the all time high next week as long as that ~$102.7K level is held.”

BTC/USDT perpetual swaps 4-hour chart. Source: Daan Crypto Trades/X

BTC price targets converge around $122,000

BTC price targets remained lofty, with market participants seeing not only a move into price discovery but short-term upside of 20% or more.

Related: Bitcoin price still on track for $180K in 2025: Interview with Filbfilb

Among them was the popular X commentator Nunya Bizniz, who focused on an upward trend line in need of a breakout.

An accompanying chart highlighted a target of $122,000 for around the start of February.

BTC/USD 1-day chart. Source: Nunya Bizniz/X

That figure was shared by Keith Alan, co-founder of trading resource Material Indicators, as part of the breakout from a so-called cup-and-handle pattern on the Bitcoin weekly chart.

“Bitcoin has reclaimed the key moving averages and is grinding back toward ATH Territory,” he reported on Jan. 17.

“Double Top Resistance lives at $108k, Psychological Resistance at $110k, Cup & Handle Target at $122k.”

BTC/USD 1-week chart. Source: Keith Alan/X
Comments

All Comments

Recommended for you

  • US Official: Ukraine Agrees to Avoid Strikes on Non-Russian Tankers and Black Sea Oil Facilities

    On August 8, according to a US official, Ukraine has agreed not to target certain non-Russian tankers and Black Sea infrastructure vital to Kazakhstan's crude oil exports. This follows ship attacks last month that caused loading disruptions. The US official said Ukraine has set up contact points so commercial shipping companies can communicate information and ensure safe passage. The commitment was reached after meetings between senior US government leaders and Ukrainian leadership, marking a potentially significant step toward increasing regional oil shipments. Previously, activity in the region had cooled significantly due to several recent attacks near the Caspian Pipeline Consortium terminal in Russia's Novorossiysk. (Jin Shi)

  • U.S. July Nonfarm Payrolls Fall by 23,000, Missing Market Expectations

    On August 7, U.S. nonfarm payrolls decreased by 23,000 in July, compared with market expectations of an increase of 80,000, and the previous value was an increase of 57,000.

  • US May and June Nonfarm Payroll Additions Revised Down by 103,000 Combined

    On August 7, the US Bureau of Labor Statistics: May nonfarm payroll additions were revised down from 129,000 to 63,000; June nonfarm payroll additions were revised down from 57,000 to 20,000. After the revisions, the combined additions for May and June were 103,000 lower than previously reported.

  • U.S. Rate Futures Market Sees Lower Odds of Fed September Hike

    On August 7, the probability of a Fed rate hike in September as priced by U.S. interest rate futures declined.

  • New York Gold Futures Top $4,400 per Ounce

    New York gold futures topped $4,400 per ounce, up 2.36% on the day.

  • Japan Finance Minister: FX Market Affected by Moves Not Driven by Actual Demand

    Japanese Finance Minister Satsuki Katayama said she and U.S. Treasury Secretary Bessent agreed that the foreign exchange market has been affected by moves not driven by actual demand.

  • BTC Breaks Through $65,000

    Market data shows BTC has broken through $65,000, currently reported at $65,007.44, with a 24-hour increase of 0.6%. The market is highly volatile, please exercise risk control.

  • Brent Crude Drops 2.00% Intraday to $81.07/Barrel

    Brent crude oil fell 2.00% during the day, now at $81.07 per barrel. (Jin Shi)

  • Trump: Data Centers May Be More Important Than Oil

    August 7 news, U.S. President Trump said in an interview with Punchbowl News, "I saw the other day that Texas seems to be opposed to building data centers. I think that's a mistake. I'm not taking a position—I just think it's a mistake, because there are other communities that want to build data centers. When a community is willing to accept data centers, it means a lot of money will flow into that community. I don't think they're ugly. Some of the data centers I've seen are the most incredible buildings I've ever seen. They are very important to the economy. If Texas says no to data centers, that's a mistake, because data centers may be more important than oil."

  • Trump to Meet with Mining Executives

    On August 7, according to CCTV International News, US President Trump will convene executives from some of the world's largest mining companies at the US State Department on August 7 local time, in an effort to take action to 'secure critical mineral supplies for the US and its allies.' Reuters reported that the US urgently needs critical minerals to replenish weapons inventories depleted during the war against Iran. During the more than five-month war with Iran, the US military expended large quantities of precision-guided missiles and air defense interceptors. US defense officials and lawmakers have warned that given existing production capacity constraints, replenishing some stockpiles could take years—although the Trump administration has denied reports of a so-called 'severe shortage of ammunition stockpiles.' According to Pentagon officials and defense companies, supplies of minerals such as rare earths, tungsten, germanium, and scandium are essential for manufacturing precision-guided missiles, fighter jets, armored vehicles, infrared sensors, and other advanced weapons systems. Expected attendees include industry giants such as global mining giant Rio Tinto Group, Australia's BHP, US Freeport-McMoRan, US Mountain Pass Materials, US Rare Earths, US Energy Fuels, and Canada's Metals Company. According to sources, the Trump administration plans to announce multiple deals and memorandums of understanding.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company