Bitcoin Bulls Eye $110,000 as Golden Cross Forms

Bitcoin (BTC) Price Holds Above $100,000 as Bulls Eye Next Breakout

Bitcoin (BTC) price has remained above $100,000 for the last three days, showing resilience despite recent volatility. A golden cross has formed on BTC’s EMA lines, indicating potential for a bullish breakout if key resistance levels are cleared. However, BTC has struggled to move past $106,000, and failure to do so could lead to a retest of lower support levels. Whether BTC can push toward $110,000 or face a pullback depends on how it reacts to these critical price zones in the coming days.

BTC Ichimoku Cloud Shows Mixed Signals

The Ichimoku Cloud chart for Bitcoin presents a mixed outlook. The price is currently above the Tenkan-sen (blue line), indicating short-term bullish momentum. In contrast, the Kijun-sen (red line) is slightly lower, suggesting a potential trend continuation if price remains above it. The Chikou Span (green lagging line) is above most of the past price action, reinforcing the current bullish bias. However, the Kumo (cloud) has a thin structure ahead, meaning there is less support or resistance strength in the near future. The cloud itself is transitioning from red to green, which typically signals a potential trend shift toward bullish conditions. However, the flat nature of Senkou Span B (red cloud boundary) suggests some hesitation in momentum. If Bitcoin price remains above the cloud, the bullish bias strengthens, but any dip back into the cloud could indicate consolidation or indecision.

Bitcoin Whales Dropped to Year-Lows, But It Could Be Recovering

The number of whales holding at least 1,000 BTC dropped significantly between January 22 and January 29, falling from 2,061 to 2,034, the lowest level since February 2024. This steady decline suggested that large holders were reducing their exposure, potentially signaling reduced confidence or profit-taking in the market. However, the number of whales has started to rise again, currently back at 2,039. While this remains low compared to previous months, it could signal a return of large holders to BTC.