Bitcoin Price Prediction: BTC Faces Resistance at $105K, Could $120K Be Next?

Bitcoin maintained a trading value of about $104k on Jan. 25. The cryptocurrency launched at a high of $106,428 on Jan. 24 before maintainers reduced demand, which caused it to drop slightly.

Bitcoin maintains its support value near $100,000 points and faces resistance at about $105,000. Considering the $100,000 support zone above will ensure continued bullish price trends. A sustainable rally through $105,000 will open up more potential ascent for Bitcoin. A price drop beneath $100,000 could cause Bitcoin to fall towards successive support areas at $92,000 and then at $87,000. 

According to Coinglass Liquidations data, Bitcoin exceeded $36.03 million during the last 24 hours, showing a 34.34% increase. Long and short positions across Bitcoin markets contributed closely matched levels of liquidations, amounting to 49.96% from longs and 50.04% from shorts. Per these stats, the market seems volatile, which mixes the positive and negative market momentum.