Bitcoin price prediction – Mapping BTC’s next target after $102K falls
Here's what to expect ahead of a likely volatile weekend for Bitcoin's price!
- BTC topped $102k on the charts, but will it climb higher into the weekend?
- Options traders expect massive upside price swings into the weekend
Bitcoin [BTC] reclaimed $102k on the price charts again, ahead of Donald Trump’s presidential inauguration on 20 January.
The upswing elevated BTC’s price action above key moving averages and reinforced a strong bullish outlook. With less than a few days to go for the inauguration, the question is this – Which direction will the cryptocurrency take now?
Will Bitcoin extend its rally?
On the daily chart, it broke out above $100k and retested it as support, further confirming the likely extension of the uptrend. This differed from the previous surge to $102k on 6 January – A deviation from the $100k before the price sharply retreated.
The immediate bullish target would be the supply zone and bearish order block $105K-$108K (red). If the $108k resistance is cleared, the next key level would be at $122k. With the daily RSI far from flagging an overheated market, the recovery could extend itself.
However, the latest move to $102k didn’t record much uptick in trading volume—A slight caution to bulls. In a reversal scenario, $100k, moving averages ($97k/$95k), or even the range-low at $90k could be key levels to watch.
Liquidity grab to $103.5k?
Additionally, Coinglass’s liquidation heatmap suggested that BTC could tap $103.5k – A key liquidity cluster that could act as a price magnet.
On the lower side, $100.5k and $98.8k had some liquidity pockets, too, and could attract the price. Especially during downside moves.
In short, the aforementioned levels could be hit in a liquidity grab-driven rally. However, with flat liquidity above $103k, a short squeeze above it could accelerate the price to the $105k-$108k target or higher.
That being said, the 25-Delta Risk Reversal (25RR) projected a massive volatile weekend. It did so with 6 and 4 volatility points expected for Saturday and Sunday Option expiries.
Since the 25RR was positive, it meant traders have been pricing massive price swings to the upside, with a premium for call options (bullish bets).
Read Bitcoin [BTC] Price Prediction 2025-2026
Simply put, Bitcoin could front a sharp weekend rally and the $105k-$108k target could be hit swiftly if the Options market’s insights are validated.
