#BinanceMegadropSolv Bitcoin gurus see these BTC price levels hitting next as $100K holds

Bitcoin is shifting traders' expectations by holding six figures as bullish BTC price patterns return to the radar.

Bitcoin continued to trade above $100,000 on Jan. 7 after a choppy Wall Street trading session. Where will its price go next?

Traders and other market commentators shared their short-term Bitcoin

BTC tickers down $100,830

price predictions as data from Cointelegraph Markets Pro and TradingView confirmed 4% daily gains.

Bitcoin “head and shoulders” ripe for failure

Bitcoin bulls beating a path back to six figures means that some bearish chart signals may no longer be valid.

Among them is the “head and shoulders” pattern on daily timeframes that had been playing out through December.

Here, an uptrend traditionally reverses in three local peaks, two lower “shoulders” with a higher “head” between them. In Bitcoin’s case, the current all-time high of $108,000 marked the head.

For trader and analyst Aksel Kibar, there is cause to consider that the head and shoulders reversal may fail.

“$BTCUSD On daily scale formed a similar H&S top. Price is now challenging the high of the possible right shoulder,” he reported in a dedicated X thread on the topic.

Bitcoin continued to trade above $100,000 on Jan. 7 after a choppy Wall Street trading session. Where will its price go next?

Bitcoin “head and shoulders” ripe for failure

Bitcoin bulls beating a path back to six figures means that some bearish chart signals may no longer be valid.

Among them is the “head and shoulders” pattern on daily timeframes that had been playing out through December.

Here, an uptrend traditionally reverses in three local peaks, two lower “shoulders” with a higher “head” between them. In Bitcoin’s case, the current all-time high of $108,000 marked the head.

For trader and analyst Aksel Kibar, there is cause to consider that the head and shoulders reversal may fail.