Bitcoin, that mischievous little devil of the crypto world, has been bouncing around like a hyperactive child on a sugar rush 🍭. Up 4% from its lows, it’s now eyeing a crucial resistance level like a cat stalking a laser pointer 🐱. Will it break out or break down? Only time will tell, but one analyst reckons BTC’s grand finale could be just weeks away. Buckle up, folks!
The Bitcoin Tug-of-War
After a recent tumble, Bitcoin is now trying to climb out of its local range high and reclaim the $111,000 zone as if it’s a lost teddy bear 🧸. September saw BTC retest the $107,000 range low before bouncing 4% to the local upper boundary. Analyst Ali Martinez, who probably has more charts than a pirate has treasure maps 🗺️, noted that BTC has been trading in a descending channel on the 4-hour chart for the past two weeks. On Tuesday morning, it broke above the pattern’s upper boundary around $110,700. Fancy that!
Martinez insists that BTC must close above $110,700 for a meaningful rebound 🚀. A confirmed breakout could set the stage for a retest of $113,500. But fail to reclaim this resistance, and the bears 🐻 might just throw a party, deepening the correction. The SuperTrend indicator is also playing spoilsport, maintaining a bearish posture at $110,700. Thanks, SuperTrend.
Meanwhile, Sjuul from AltCryptoGems 🪙 suggests that Bitcoin is trying to replicate its recent significant pumps. According to the chart, BTC has entered a corrective period following a new all-time high (ATH), displaying a falling wedge pattern before breaking out again. The $108,000 level is the bulls’ 🐂 key area, serving as a crucial bounce point. Holding this level would confirm BTC’s strength. Fail to maintain it, and we’re looking at a bigger correction to $98,000. Gulp.
Is BTC’s Peak Just Around the Corner?
Rekt Capital, who probably never sleeps 💤, gave a higher timeframe perspective for BTC. He highlighted mixed signals after BTC failed to close the week above $109,000. This level previously served as the final weekly resistance before new ATHs, suggesting a bearish confirmation. But wait! The Monthly chart tells a different story 📖. Bitcoin has held its Macro Range of $107,200-$116,000, and monthly candles have produced long downside wicks throughout the cycle. Deep retests often occur before trend continuation, so the broader market structure remains intact. Phew!
As this week progresses, BTC could see heightened volatility, tapping $104,000 on a wick. If the Weekly timeframe confirms rejection from $107k and progresses bearish confirmation, that could trigger a Monthly wick. The goal would then be to resynchronize with the Monthly Range before the Monthly Close to maintain the macro structure and set the stage for one last leg up. Confused? Join the club 🎪.
The analyst also noted that the previous bull market lasted about 152 weeks, while this one is already 145 weeks in. This could signal that there are only around seven weeks left if the current bull market repeats its previous performance. If Bitcoin peaks in its Bull Market in mid-September/mid-October 2025 as per historical Halving cycles, that’s either two weeks away or 1.5 months away. Time to set your alarm ⏰!
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2025-09-03 12:06