- BTC topped $102k on the charts, but will it climb even higher this weekend?
- Options traders expect huge upward price swings over the weekend
Bitcoin [BTC] has regained $102,000 on the price charts ahead of Donald Trump’s January 20 presidential inauguration.
The rebound took BTC price action above the major moving averages and reinforced the strong bullish outlook. With less than a few days to go before the inauguration, the question is this: what direction will cryptocurrency take next?
Will Bitcoin Extend Its Rally?
Source: BTC/USDT, TradingView
On the daily chart, it broke above $100k and retested as support, further confirming the likely extension of the uptrend. This was different from the previous surge to $102,000 on January 6 – a departure from $100,000 before the price pulled back sharply.
The immediate bullish target would be the supply zone and bearish order block of $105K-$108K (red). If the USD 108,000 resistance is cleared, the next major level would be at USD 122,000. With the daily RSI far from marking an overheated market, the recovery could continue.
However, the latest move to $102,000 did not cause much of an increase in trading volume. A little warning for bulls. In a reversal scenario, $100,000, moving averages ($97,000/$95,000) or even the lows in the $90,000 range could be important levels to watch.
Liquidity grab to $103.5k?
Source: Coinglass
Furthermore, Coinglass’ liquidation heatmap suggested that BTC could tap $103.5k – a key liquidity cluster that could act as a price magnet.
On the downside, $100.5k and $98.8k also had some liquidity pockets and were able to pick up the price. Especially during downward movements.
In short, the above levels could be hit during a liquidity grab-driven rally. However, with flat liquidity above $103,000, a short squeeze above could accelerate the price to the $105,000-$108,000 target or higher.
That said, the 25-Delta Risk Reversal (25RR) predicted a hugely volatile weekend. This happened with 6 and 4 volatility points expected for the option expirations on Saturday and Sunday.
Since the 25RR was positive, it meant that traders priced huge price swings upwards, with a premium for call options (bullish bets).
Read Bitcoin [BTC] Price prediction 2025-2026
Simply put, Bitcoin could stage a sharp weekend rally and the $105,000-$108,000 target could be reached quickly if the options market insights are validated.
