Bitcoin- Genuine up break?

Since reaching its recent all-time high in mid-December, BTCUSD has been trading within a 20% range, with strong support established around the 90K zone.

In mid-January, the price briefly dipped below this critical support level, but the move was quickly reversed, and BTC/USD stabilized around the 100K mark.

The "Trump coin mania," which began two days ago, has had little to no impact on Bitcoin traders. Despite the hype, there were no sell-offs here, and the market remained steady. Even though there was a minor dip to 100K yesterday, it was promptly reversed, allowing Bitcoin to reach a new, albeit marginal, all-time high.

From a technical perspective, Bitcoin remains range-bound and is currently trading near the upper boundary of this range. If a genuine breakout occurs, the measured target for the next move could be in the 128-130K region.

For the bulls, there’s little reason to worry as long as Bitcoin stays above the crucial 90K support level.