Bitcoin Bulls Prepare For Six-Figure Push: What's Going On?

Bitcoin (BTC) continues to show strength as the price action consolidates above a key technical level, reinforcing the bullish structure many traders are watching closely.

According to the observations shared by renowned cryptocurrency analyst Michaël van de Poppe in an X post on January 16, Bitcoin is behaving exactly as bulls would hope. They’re holding above a major resistance zone that has now flipped into support.

As long as this level stays intact, the broader uptrend remains firmly in place. In his words:

“So far, so good for Bitcoin. Holding up above the crucial resistance zone for support.”

The 21-Day Moving Average Keeps Bulls In Control

One of the most important signals on van de Poppe’s chart is the position of Bitcoin relative to its 21-day moving average (MA), a widely followed trend indicator useful to swing traders and institutions alike.

As long as the price holds above that level, momentum remains bullish, and dips are viewed as buying opportunities rather than signs of weakness. According to van de Poppe:

“Again, as long as the 21-Day MA is beneath us, the trend is up and it’s just a matter of time until it breaks to the next level, which is $100K.”

Bitcoin has repeatedly defended this MA during the current consolidation, reinforcing the idea that the market is building energy for the next leg higher.

Consolidation Signals Strength, Not Weakness

After a strong multi-week rally, Bitcoin has entered a period of sideways consolidation just below the psychologically important $100,000 level. Currently, it is trading at the price of $95,433.08, which suggests a decline of 1.2% on the day, an increase of 5.6% across the week, and a 9.7% gain over the past month, per the most recent chart data.

*Bitcoin price 30-day chart. Source:* *CoinGecko*

Though some traders may interpret the pause as hesitation, technical analysts see this behavior as constructive. Consolidation allows leveraged positions to reset and funding rates to cool off. It also lets spot demand to gradually absorb supply.

Historically, similar structures have preceded major continuation breakouts during previous bull cycles.

On-chain data also continues to support the bullish thesis, with exchange balances near multi-year lows and long-term holders showing little interest in selling at current levels.

So far, so good for #Bitcoin.

Holding up above the crucial resistance zone for support.

Again, as long as the 21-Day MA is beneath us, the trend is up and it's just a matter of time until it breaks to the next level, which is $100K. pic.twitter.com/iYLFH0TTia

— Michaël van de Poppe (@CryptoMichNL) January 16, 2026

$100K Remains The Next Major Target

With structure holding firm and momentum indicators pointing higher, van de Poppe believes it’s only a matter of time before Bitcoin attacks the next major resistance zone.

The $100,000 level remains the most closely watched target in the market, both for its psychological significance and its potential to trigger a new phase of price discovery.

If Bitcoin maintains its current support zone and continues riding above the 21-day MA, traders expect the next breakout attempt to be decisive. Meanwhile, the trend remains intact, and the structure is healthy, in addition to the bulls being firmly in control.