10x Research Sets Bitcoin Target for February

In February, the price of the leading cryptocurrency could reach $122,000 before “another consolidation.” This is according to a report by 10x Research.

The chances of the rally continuing remain: if the pattern holds, Bitcoin will resume its ascent after a pause, followed by a pullback to $122,000 to test the level as support.

According to experts, this target is driven by the characteristic movement of digital gold prices in steps of $16,000-$18,000.

On January 21, Bitcoin tested the breakout line of the wedge pattern at $98,937, rebounding to $107,000. In this area, an optimal entry point with low risk and high profit was formed, specialists noted.

The current breakout of $106,000 indicates the relevance of the scenario, 10x Research emphasized.

Back in September, investor and Okse co-founder known as Elja highlighted signals of an “explosive move” into the $100,000-$150,000 range by the first quarter of 2025 due to the formation of a “cup and handle” pattern.

In January, technical analyst Peter Brandt identified $120,000-$150,000 as a target for the leading cryptocurrency this year.