Bitcoin could struggle to maintain momentum even if it reclaims the $100,000 level, according to new analysis. In a Jan. 16 X post, trading resource Stockmoney Lizards predicted that BTC/USD still has weeks of rangebound trading ahead. $102,000: A Tough Barrier for Bitcoin After bouncing from recent two-month lows, Bitcoin’s recovery remains uncertain. Stockmoney Lizards highlighted that while Bitcoin has touched $100,000, a stronger resistance level at $102,000 poses a significant challenge. “BTC is entering a resistance zone (upper channel level),” the analysis stated, accompanied by a 4-hour chart. “Fibs are drawn here and should guide future short-term PA: 1. 91-92k is the high volume lower support level (1.618 Fib Extension) 2. If BTC moves higher, the previous high at 102k will be the hardest nut to crack.” At the time of writing, BTC/USD hovered around $99,000, buoyed by positive US inflation data. However, Stockmoney Lizards cautioned that a bull market recovery in January remains unlikely. “Conclusion: A rejection from here is likely, we expect BTC to continue trading in the 90-100k range in the next weeks,” the post added. Mixed Sentiment Among Traders Other analysts echoed the challenges at $102,000. Popular X account BigMike7335 noted, “$BTC must flip $102k into support to remove us from the threat of the triangle IMO,” sharing a 12-hour chart with key indicators. Meanwhile, some traders remained optimistic, pointing to the invalidation of a bearish head and shoulders reversal pattern. “And just like that, head and shoulder breakdown sellers completely and utterly rekt,” trader Bluntz tweeted. Bitcoin’s price action continues to captivate traders, as many await further clarity on whether it can sustain its gains or face renewed selling pressure.
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