 Watch these Bitcoin price levels next with 'door open' to $100K retest 
2025-01-22
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Bitcoin BTCUSD came within striking distance of new all-time highs on Jan. 22, but “the door is open” to a new 5% drop.
Data from Cointelegraph Markets Pro and TradingView shows that BTC price action is acting within a critical range — and market observers have key support levels ready.
Spotlight on $100,000 BTC price support
For Keith Alan, co-founder of trading resource Material Indicators, it is all about $100,000.
In the short term, that level is arguably the most attractive downside target thanks to a wall of bid liquidity supporting it being removed.
A chart of liquidity conditions on Binance uploaded to X on Jan. 22 puts the likelihood of a support retest firmly in perspective. 
“The door to retest $100k is open,” Alan summarized.
The chart additionally shows how comparatively thin bid liquidity is compared to the sell wall above the spot price at $110,000, now the major hurdle for bulls to overcome.
That level has not gone unnoticed within trading circles, with popular commentator Bitcoin Munger identifying it as a selling target for Bitcoin whales.
Bitcoin needs to print higher daily closes
Looking above, popular trader and analyst Rekt Capital sees BTCUSD in a narrower range, but with breakout signal levels nearby.
On daily timeframes, a “confluent support area” around the $100,000 is still valid, while a push beyond $106,000 is all that is needed to set up a run at all-time highs.
“The confluent support area (green circle) has indeed acted as a floor that has enabled consolidation within the $101k-$106k range. Bitcoin is once again challenging the Range High for a breakout attempt from the range,” he reported in an X post on Jan. 21.

A large range comes courtesy of fellow trader Daan Crypto Trades, who likewise sees price discovery entering should BTCUSD start printing daily candle closes above $108,000.
“Think most are better off just waiting patiently until this either sweeps the range high/low again or if we go full on price discovery mode,” he wrote in part of accompanying commentary. 

“Looking good so far”
Offering a hopeful short-term outlook, Patric H, the analyst known as Cryptellilgence on X, shows key technical levels being preserved.
These include the point of control, or PoC, of Bitcoin’s weekly range, currently around $103,000.
Patric H added that, per Elliott Wave theory, Bitcoin’s latest low-timeframe correction should be complete.
“It's looking good so far,” he concluded.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.