Bitcoin Price Analysis: Why the $100,044 Level Is an Important Upside Target

Bitcoin (BTC) is once again attracting market attention as price action begins to stabilize after a prolonged correction. Based on the daily (1D) chart structure, Bitcoin is showing early signs of recovery, with a potential upside move toward the $100,044 level.

This level is not chosen randomly. It represents a previous support zone that has now turned into resistance, and notably, it has not been retested since the last major decline. This makes it a technically significant area that traders are closely watching.

Understanding the Current Bitcoin Market Structure

After a strong sell-off, Bitcoin formed a base near the lower demand zone, where buyers repeatedly defended price. From this area, BTC started to print higher lows, suggesting that selling pressure is weakening and accumulation may be taking place.

The chart also shows a rounded bottom formation, often associated with trend transitions rather than continuation of strong bearish momentum. While this does not guarantee an immediate rally, it provides a technical foundation for a potential upside move.

Why the $100,044 Level Matters

The $100,044 price zone stands out for several key reasons:

1. Previous Support Turned Resistance

Historically, this area acted as a strong support level before Bitcoin broke down. In technical analysis, former support levels often become resistance when price revisits them.

2. Untested After the Breakdown

Since the sharp decline, Bitcoin has not returned to test this level. Markets often seek to revisit such zones to confirm whether sellers are still present or if resistance has weakened.

3. High Short Liquidation Potential

Data and market structure suggest that a significant number of short positions may be clustered around this area. If price moves upward with momentum, short sellers could be forced to close their positions, potentially accelerating the move through liquidation-driven buying pressure.

Liquidity and Market Behavior

Bitcoin price movements are heavily influenced by liquidity. Areas with high open interest, especially where many traders are positioned on one side, tend to act as price magnets.

If Bitcoin continues to hold above its current support zone and volume increases, a move toward $100,044 becomes technically reasonable—not as a prediction, but as a logical target based on market mechanics.

Key Conditions to Watch

While the setup looks constructive, confirmation remains essential. Traders and investors should monitor:

Price holding above the recent higher-low structure
No strong daily close back below the main demand zone
Gradual increase in volume during upward moves

Failure to hold support could invalidate the bullish scenario and shift focus back to consolidation or downside risk.

What This Means for Traders and Investors

This analysis highlights the importance of context and structure, rather than emotional reactions. Bitcoin does not move solely on news or speculation; it often follows technical levels where liquidity and historical price action align.

The $100,044 area is a level to watch, not chase. Patience and confirmation remain critical, especially in volatile market conditions.

Final Thoughts

Bitcoin’s current structure suggests a potential recovery phase, with $100,044 emerging as a logical upside target due to its role as a former support, untested resistance, and liquidity-rich zone. Whether price reaches this level will depend on how the market reacts to support and volume in the coming sessions.

As always, responsible risk management is key.

Disclaimer

This article is provided for educational and informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and involve risk.

Always do your own research (DYOR) before making any trading or investment decisions.