Bitcoin Breaks Cup-and-Handle, Eyes $106,600 as $100,200 Looms

Beincrypto reports Bitcoin has confirmed a breakout from a cup-and-handle pattern, clearing resistance near $94,800 and pushing above the $95,000 zone, trading up roughly 3.8% on the day and about 6.5% over the past 30 days.

The measured move from the pattern points to $106,600 as the first major upside target, while reclaiming the psychological $100,200 level is cited as a prerequisite for loftier projections. On-chain data shows the heaviest realized price clusters sit below the current price, reducing immediate selling pressure. Large wallets holding 10,000–100,000 BTC have increased combined holdings from roughly 2.18 million BTC to about 2.20 million BTC since January 2, and retail wallets (0.01–0.1 BTC) have inched up from approximately 273,080 to 273,250 since January 5.

Risk remains from derivatives: long exposure is reported at about $2.69 billion versus roughly $320 million in shorts, creating vulnerability if price slips back under the breakout zone. Holding above $94,500–$94,800 would keep the bullish setup intact and open a path toward $106,600 and potentially a new all-time high if Bitcoin can clear supply around $112,000; losing $94,500 or dipping under $91,600 would weaken the structure. The piece notes the analysis is for informational purposes and not financial or investment advice.

Key Topics

Crypto, Bitcoin, Tom Lee, Glassnode, Santiment, Binance