Short-Term Bitcoin Price Predicton From 10x Research

Bitcoin’s recent price movements have sparked optimism among analysts, with predictions of a potential 15% rise in the near term followed by consolidation.

After rebounding to $107,000 on Tuesday, the cryptocurrency demonstrated strong technical resilience, according to Markus Thielen, head of research at 10x Research.

Thielen highlighted the breakout as a key signal for traders, offering what he described as a “low-risk, high-reward” opportunity. He also noted a recurring pattern of price increases in $16,000 to $18,000 increments since the approval of U.S. spot Bitcoin ETFs last year. If this trend holds, Bitcoin could reach $122,000 by February, with the potential for even higher levels before stabilizing.

Bitfinex analysts echoed this sentiment, praising Bitcoin’s strength compared to traditional markets and attributing the recovery to growing market enthusiasm, particularly following Donald Trump’s inauguration on January 20. They emphasized that Bitcoin’s ability to test and hold critical resistance levels around $101,000 has reinforced investor confidence.

READ MORE:

Trump-Era Crypto Boom Sparks Launch of Meme Coin ETF Fillings

Additional support for the bullish outlook came from Keith Alan, co-founder of Material Indicators, who identified a “cup-and-handle” formation on the weekly chart. Alan suggested this pattern could drive Bitcoin toward its all-time highs if key levels are maintained. While optimism is high, analysts caution that maintaining momentum above $106,000 is crucial for confirming the upward trajectory.

Alexander Stefanov