Bitcoin experts believe that this BTC price will reach the next level while maintaining a $100,000 level

Bitcoin is changing traders' expectations as it holds a six-figure level while the BTC price model rallies back.

Bitcoin continues to trade above $100,000 on January 7 following a volatile Wall Street trading session. Where will its price go next?

Traders and other market commentators have shared their short-term Bitcoin predictions, with price data from Cointelegraph Markets Pro and TradingView confirming a daily increase of 4%.

Bitcoin's "head and shoulders" pattern is ripe for failure.

Bitcoin speculators aiming for a return to the six-figure level mean that some bearish chart signals may no longer be valid.

Among these is the "head and shoulders" pattern on the daily timeframe that has been playing out throughout December.

Here, the bullish trend typically reverses at three local peaks, with two lower "shoulders" and one higher "head" in the middle. In Bitcoin's case, the current all-time high of $108,000 has marked the head.

For trader and analyst Aksel Kibar, there is reason to consider that the head and shoulders pattern reversal may fail.

"$BTCUSD On the daily scale has formed a similar H&S peak. The price is currently challenging the high of the right shoulder that may occur," he reported in a dedicated X thread on the topic.

"A breakout could lead to a negation of the pattern and should be considered bullish. The failed H&S price target is 116K."