#btcnews Bitcoin’s price reached a new all-time high (ATH) of $109,588 on Monday but quickly slipped 6.68% and closed at $102,260. However, the next day, it found support around its key $100,000 level and rose 3.8%. On Wednesday, it could not sustain its rise and fell 2.3%, closing below $104,000. On Thursday, it continues to edge down around $101,480.

If the $100K support level holds and BTC breaks above its all-time-high, it could extend the rally above the $125K mark, calculated by the 141.40% Fibonacci extension level (drawn from the November 4 low of $66,835 to Monday’s ATH of $109,588) at $127,287.

The Relative Strength Index (RSI) indicator on the daily chart reads 55, above its neutral level of 50, indicating bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) indicator flipped a bullish crossover on January 15, giving a buy signal and suggesting a continuation of an uptrend.