Bitcoin’s price is showing bullish momentum with a potential target above $103,000 before President-elect Donald Trump’s inauguration on Jan. 20. The cryptocurrency has surged 11.5% from its Jan. 13 low of $88,900, breaking past key resistance levels near $96,000.
A “power of 3” setup, involving accumulation, manipulation, and distribution phases, suggests Bitcoin is now in the distribution phase, driving the price higher. Analysts identify $103,000 as a key liquidity zone, with further upside possible if it holds this level.
Failure to reclaim $103,000, however, could lead to a retracement toward $80,000, where downside liquidity awaits. Bitcoin is currently trading near $102,750, positioning it for a potential breakout.
Source: Cointelegraph
