Bitcoin: How can BTC push its price past the $106k resistance?

• Bitcoin value surged to $102K as shopping for stress elevated, signaling sustained upward momentum
• Sturdy market participation and constructive sentiment steered Bitcoin might problem new resistance ranges quickly

Bitcoin value: Current efficiency and market dynamics

Bitcoin has proven resilience, with its value climbing to $102,837. There was a gradual uptrend since November, marked by persistently larger lows. The RSI is at the moment at 55.69, indicating impartial momentum with room for development.

OBV developments recommend rising accumulation, probably fueling shopping for stress.

Supply: TradingView

The current surge could be attributed to the brand new pro-crypto U.S. administration, sparking renewed curiosity amongst buyers.

Traditionally, January typically acts as a basis month for bull runs, setting the stage for potential rallies.

Coupled with constructive sentiment and historic patterns, Bitcoin’s upward trajectory might quickly face assessments round psychological resistance ranges.

Shopping for stress rebounds 

The Purchase/Promote Strain Delta chart exhibits important fluctuations in market sentiment over the previous few days.

Notably, there was a pointy enhance in purchase stress across the twenty fourth of January, coinciding with a value surge towards $106K.

Nevertheless, this momentum was short-lived as promote stress intensified, resulting in a pointy decline under $100K on the twenty seventh of January. This drop was accompanied by excessive buying and selling quantity, suggesting heavy liquidation and potential stop-loss triggers.

Supply: Alphractal

As Bitcoin approached $98K, purchase stress rebounded considerably, aligning with the present restoration to $102K. This means consumers are stepping in at key assist ranges, reinforcing market confidence.

If this development continues, Bitcoin might stabilize above $102K and try one other breakout towards the earlier resistance stage of $106K.

The buying and selling quantity aligns with these shifts, indicating sturdy market participation throughout each rallies and corrections. This hints at heightened investor exercise.

Learn Bitcoin’s [BTC] Value Prediction 2025–2026

Market sentiment evaluation

Bitcoin’s change inflows present worthwhile perception into investor sentiment. Current information suggests a comparatively steady development.

Traditionally, giant spikes in change inflows typically precede sell-offs, as buyers transfer BTC to exchanges for potential liquidation.

Nevertheless, the present inflows stay reasonable regardless of Bitcoin’s rally previous $102K, indicating that holders will not be dashing to promote, reinforcing bullish sentiment.

Supply: CryptoQuant

On the time of writing, the Concern & Greed Index stood at 72, inserting the market firmly within the “Greed” zone.

This means sturdy investor confidence but in addition raises warning, as excessive greed ranges can precede corrections.

If inflows stay regular and greed doesn’t overextend, Bitcoin might maintain its momentum, with the potential to problem new highs.