Analyst Identifies Condition for Bitcoin’s Rally Continuation
A weekly close above $114,000 would be a "big step" for Bitcoin, says Sam Price.
A weekly close above $114,000 would be a “big step” for the leading cryptocurrency, bolstering a positive sentiment, stated trader Sam Price.
Bitcoin bulls are defending $109K support nicely. A weekly close above $114K would be big, but we’ll see by Sunday.
Also, huge wick like that shows solid buy pressure. Likely some sideways flagging and we continue to maintain. Watching the 1H for a possible push up. pic.twitter.com/BheUtkpksJ
— Sam Price (@CryptoLifer33) August 28, 2025
“Bitcoin bulls are confidently defending the $109,000 support,” he wrote.
According to Price, long green candles indicate strong buying pressure. However, the expert did not rule out a temporary sideways movement in digital gold.
The crypto analyst known as Rekt Capital emphasized that it is crucial for Bitcoin to reclaim $114,000 as support to avoid a prolonged correction period.
Bitcoin is finding support at $109k after the minimum Measured Move has taken place
Really important BTC reclaims $114k (black) as support in the future
Because otherwise, a rebound here could end up as a post-breakdown relief rally if $114k turns to resistance
And… https://t.co/PR2n98JHdF pic.twitter.com/EBAwa5o6MB
— Rekt Capital (@rektcapital) August 27, 2025
“This period has become a cycle of downward deviations, so it all comes down to a weekly BTC close above $114,000 indicating bullish sentiment,” he emphasized.
Similar key levels were identified by MN Capital founder Michaël van de Poppe. According to his observations, support at $112,000 is “crucial.” If it fails, the market should expect a downturn.
It remains crucial.
If #Bitcoin can’t hold above $112K, we’ll probably face a very ugly correction across the board.
Probably the final one and then we’re up only for the coming period. pic.twitter.com/wXtfZwOAxH
— Michaël van de Poppe (@CryptoMichNL) August 28, 2025
The analyst presented his forecast on Thursday, August 28. The very next day, Bitcoin fell to $110,000.
At the time of writing, the leading cryptocurrency is trading around $110,500. Today, the asset sharply rose to $111,500, but quickly retreated.
On the daily chart of the leading cryptocurrency, two bullish “megaphone” patterns have formed, which may signal a rise to $260,000.
Рассылки ForkLog: держите руку на пульсе биткоин-индустрии!