{"id":101840,"date":"2025-10-03T08:53:23","date_gmt":"2025-10-03T08:53:23","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=101840"},"modified":"2025-10-03T08:53:23","modified_gmt":"2025-10-03T08:53:23","slug":"btc-flips-120k-into-support-can-bulls-push-btc-to-new-all-time-high","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=101840","title":{"rendered":"BTC Flips $120K Into Support, Can Bulls Push BTC to New All-Time High?"},"content":{"rendered":"

Bitcoin was trading around $120,000 at press time, up slightly in the last 24 hours and 10% over the past week. The current 24-hour trading volume is approximately $64.2 billion. Traders are now watching the $120,000 level to see if it will act as new support, following a daily close above this key area.<\/p>\n

Notably, the recent breakout is being compared to a similar move in mid-August, where a daily close above $120,000 led to a bounce toward $124,000 ATH. The price behavior around this level may help confirm the next direction in the short term.<\/p>\n

$120K Breakout Mirrors August Move<\/h2>\n

Analyst Rekt Capital posted that Bitcoin has performed a daily close above the $120,000 mark. In August, a similar close led to a successful retest of the same level as support, followed by a push toward $124,500. The chart shows both events marked with green circles.<\/p>\n

#BTC<\/a><\/p>\n

Bitcoin has performed a Daily Close above ~$120k (black)<\/p>\n

An identical Daily Close in mid-August (green circle) preceded a successful retest of $120k as new support before preceding upside into $123400 (red)<\/p>\n

Will the not-too-distant history repeat?$BTC<\/a> #Crypto<\/a> #Bitcoin<\/a> https:\/\/t.co\/PwDpZqC8dH<\/a> pic.twitter.com\/IUPmTND4A9<\/a><\/p>\n

\u2014 Rekt Capital (@rektcapital) October 3, 2025<\/a><\/p>\n\n

Current price action is showing a repeat of that setup. If the level holds, the market may aim for $123,350 and beyond. If it fails to hold, nearby supports are located around $117,288 and $114,249.\u00a0In another post<\/a>, Rekt Capital added that Bitcoin is also testing a 2.5-month downtrend line near $119,000.<\/p>\n

Additionally, on the weekly timeframe, the analyst referred<\/a> to the possibility of Bitcoin entering \u201cPrice Discovery Uptrend 3.\u201d<\/em> The long-term chart shows a pattern that began in early 2023, where the price breaks out, retests resistance as support, and continues higher.<\/p>\n

That structure has repeated at multiple stages. Bitcoin is now positioned at $120,000, and a weekly close above this level may support a continuation into new territory. A green zone on the chart marks the potential area for this movement.<\/p>\n

<\/a>Source: Rekt Capital\/X<\/p>\n

Momentum May Slow as RSI Peaks<\/h2>\n

On the 4-hour chart, analyst Ted Pillows pointed out that the RSI has reached 80.18, the highest level since July. The reading places BTC in overbought conditions on that timeframe.<\/p>\n

$BTC<\/a> 4H RSI is now the most overbought since the July top.<\/p>\n

Usually such instances result in a correction or sideways price action for some time. pic.twitter.com\/81EE4fu9FD<\/a><\/p>\n

\u2014 Ted (@TedPillows) October 2, 2025<\/a><\/p>\n\n

The RSI reading could suggest a pause or consolidation phase after the recent rally from below $110,000.<\/p>\n

Monthly Chart Targets $203K by Year-End<\/h2>\n

Crypto Seth offered a long-term chart that shows BTC inside a growth channel. He noted the past rallies in the final quarter of the previous cycles: 368% in 2017 and 83% in 2021. Based on that, the analyst is now considering a 70% rise to around $203,530 by the end of 2025.<\/p>\n

The chart shows that the price remains well within the bounds of the channel.<\/p>\n

2017: $BTC<\/a> pumped 368% last 3 months of the bull market.<\/p>\n

2021: 83%<\/p>\n

2025: 70% from now to Dec sounds reasonable? Surely with all the ETFs and adoption it can give me another 70%???? pic.twitter.com\/6OSZPiWhTl<\/a><\/p>\n

\u2014 Crypto Seth (@seth_fin) October 2, 2025<\/a><\/p>\n\n

The structure remains intact, with no signals of a market top yet.<\/p>\n

The post BTC Flips $120K Into Support, Can Bulls Push BTC to New All-Time High?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin was trading around $120,000 at press time, up slightly in the last 24 hours and 10% over the past week. The current 24-hour trading volume is approximately $64.2 billion. Traders are now watching the $120,000 level to see if it will act as new support, following a daily close above this key area. Notably, […]<\/p>\n","protected":false},"author":0,"featured_media":101841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-101840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/101840"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=101840"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/101840\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/101841"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=101840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=101840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=101840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}