With President Trump signaling support for the digital currency ahead of his inauguration on Monday, Bitcoin is coming together with expectations. The price recently rose to $105,001, the highest level since December 18. On December 17, Bitcoin hit an intraday high of $108,364.
Today, Bitcoin is up nearly $5,000, or 5.0%, and has gained more than 11% for the week. Earlier this week, it fell below $90,000 to a low of $89,164, marking an impressive 17.5% rebound from that level.
Technically, Bitcoin has broken above the main swing area between $102,760 and $103,647, now acting as close support (green circles with numbers on the chart below). Holding above this range would confirm bullish momentum and set the stage for a possible retest of the all-time high at $108,364. More conservative traders may see $100,000 as a natural support level, reinforced by a recently broken upper trendline, offering a lower-risk entry point.
