Bitcoin (BTC), which has seen its price rise 4% from lows, is now retesting a key resistance level that could decide whether the next step will be a breakout. An analyst has suggested that BTC may reach its cycle peak and final upleg in the coming week.
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Bitcoin Key Reclaiming Key Level
Bitcoin, after its recent decline, is now trying to break through its range high in order to reclaim $111,000 as support. The flagship cryptocurrency began September with a drop. retested The $107,000 low range before rising 4% towards the upper local boundary.
Analyst Ali Martinez noted BTC is trading within a downward channel in the chart of the 4 hour time frame for the last 2 weeks. On Tuesday, the cryptocurrency broke above this region, retesting its upper boundary of around $107,000.
According to the market observer, Bitcoin must close at or above $110700 in order for it to make a significant rebound. A confirmed break above this level would set up a potential retest for $113500.
The analyst said that if this resistance is not overcome, it will only reinforce the bearish trend and increase the depth of the correction. “the SuperTrend indicator also aligns with this zone, maintaining a bearish posture at $110,700.”
Sjuul, a member of AltCryptoGems suggested Bitcoin appears to be trying to follow the playbook used in the last significant pump. The chart shows that the crypto’s flagship has entered a correction period after a new high. It displays a wedge-shaped pattern, before finally breaking out.
According to this, $108,000 is an important area for bulls because it acts as a pivotal bounce point. This level is crucial for the bulls. “confirm BTC’s strength on the higher timeframe, showcasing a formidable price action with resistance flipping and retesting.”
Bitcoins are at an all-time high according to Sjuul “critical juncture to keep playing the same tune,” If you fail to do this, the risk of a more severe correction at the level $98,000 where the Weekly EMA50 is located will increase.
BTC to Peak in Coming Weeks?
Rekt Capital has given a more optimistic timeframe for its flagship crypto. highlighting BTC’s mixed signals are evident after the failure to reach the $109,000 level. It was the previous weekly resistance level before the new ATHs. Therefore, it may be the first signal technical of a confirmation in the bearish direction.
He did not deny that a weekly schedule is necessary. “showing early signs of weakness, the Monthly chart tells a different story.” Bitcoin is still holding its Macro-Range of $107200 to $116,000
Monthly candles also have long wicks on the bottom. throughout The cycle is often characterized by deep retests that occur before the continuation of a trend. The broader structure of the market remains unchanged despite pressures on a weekly basis.
The cryptocurrency may see increased volatility as this week continues, with the potential to reach $104,000 in a single candle. He claimed that “If the Weekly timeframe confirms rejection from $107k and progresses bearish confirmation, that could be the trigger for such a Monthly wick.”
This is the case “then the goal for price would be to then resynchronize with the Monthly Range before the Monthly Close is in” The macro structure The final stage is to set up the last step.
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This analyst noted the bull market of the past lasted 152 weeks while this current one has already been in place for 145. The analyst noted that if this current bull market repeats its past performance, then there would only be around seven more weeks.
“If Bitcoin is going to peak 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,” Analyst concluded.
Charts from TradingView.com and Unsplash.com.
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Source: www.newsbtc.com
