 Bitcoin ‘fully gassed’ to leave $100K BTC price behind — Analysis 
2025-01-21
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Bitcoin BTCUSD tested $100,000 support on Jan. 21 as the dust settled on US President Donald Trump’s inauguration.
BTC price targets focus on sub-$100,000
Data from Cointelegraph Markets Pro and TradingView showed sellers keeping up the pressure on the six-figure BTC price boundary.
Inauguration Day offered plenty of volatility but ultimately disappointed Bitcoin bulls as Trump made no mention of Bitcoin, crypto or a US strategic reserve involving them.
Longs thus suffered on the day, with 24-hour crypto long liquidations circling $500 million at the time of writing, per data from monitoring resource CoinGlass.
“$BTC is targeting the nearest liquidity on both sides,” trading platform Hyblock Capital wrote in part of its latest update on X.
Traders entertained the idea of another sweep of liquidity in the mid to high $90,000 range next.
“I'd take a long from 99.5K~ if offered. I think gray box needs to hold for local bullishness and sweeping all the Trump leadup / news PA makes sense,” popular trader Crypto Chase told X followers alongside the 4-hour chart.

Fellow trader XO argued that the December BTC price range was still in control, with lows around $90,000 and highs at $108,000.
“Decembers High & Decembers Low defines the key range for me. Acceptance out of either side most likely resolves in a trend,” they summarized. 
Bitcoin “Choppiness Index” points to breakout
Trader and analyst Matthew Hyland meanwhile emphasized the near-term importance of Bitcoin’s 10-day simple moving average (SMA), currently at $99,969.
“BTC quite the daily candle here. Tapped the 10 SMA then went to new all time highs and then back below resistance but still above the 10 SMA,” he explained to X followers.

In a fresh update, James Check, creator of onchain data resource Checkonchain, predicted a new BTC price trend emerging sooner rather than later.
This was thanks to the Choppiness Index, a volatility tool now signaling the end of a period of sideways movement.
“The Bitcoin Choppiness Index is fully gassed, and ready to trend,” Check announced on the day.

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.