Bitcoin’s price has soared to a new all-time high, fueled by optimism surrounding Donald Trump’s inauguration. However, amid the excitement, investors should remain cautious and focus on risk management.

Bitcoin Price Technical Analysis
Daily Chart Overview
Bitcoin has re-entered a bullish phase after bouncing off the $92K support level. It successfully broke through the crucial $100K resistance and even retested it before reaching a new peak at $110K.

The $100K level now acts as strong support, with the RSI indicating bullish momentum. If this support holds, Bitcoin could rally toward the $120K mark in the short term.
4-Hour Chart Insights
On the 4-hour chart, Bitcoin’s breakout from a large falling wedge pattern has paved the way for its new all-time high. The upper boundary of this pattern has been retested twice, pushing prices higher.

However, the market’s swift rejection at $108K raises concerns. If Bitcoin fails to hold the $100K support, a potential price reversal may occur in the coming days.
On-Chain Analysis: Exchange Netflow Trends
Bitcoin Exchange Netflow
Bitcoin’s recent surge has sparked bullish expectations among investors, as reflected in the exchange netflow metric. This indicator tracks the net amount of BTC deposited or withdrawn from exchanges.

A negative netflow, which has been observed for months, suggests that more Bitcoin is being withdrawn than deposited. This trend indicates accumulation, hinting at bullish sentiment and the potential for further price increases due to a supply shock.
What’s Next for Bitcoin?
If the current accumulation trend continues and market optimism remains high, Bitcoin’s price could climb even higher in the coming weeks. However, a break below the $100K support level might trigger a short-term correction.