Join our Telegram Channel to stay up to date on the coverage of information on the breakup
The price of Bitcoin jumped 3.5% in the last 24 hours to negotiate at $ 118,329 to 3 h 36, the HNE as a “uptober” seemed to ignite despite the closure of the United States government.
The closure began at 12:01 p.m. Wednesday after the Congress legislators did not succeed in a new financing bill.
The markets raised their shouldersThe cryptographic market overall recording an increase of 4% to a market capitalization of 4.1 billions of dollars.
BTC is now increasing towards the level of $ 119,000 because it increases the larger digital asset market, while the rally expected for a long time in October, often nicknamed “Uptuber”, took root.
“Bitcoin tries to get out of its monthly range already on the first day of the new month of October,” said popular merchant and popular analyst, with more than 559,000 subscribers, on X.
Bitcoin is trying to pass out from its monthly range already on the first day of the new month of October$ BTC #Crypto #Bitcoin pic.twitter.com/ndt0gbdlvn
– Rekt Capital (@rektcapital) October 1, 2025
Analyst Embarrassed Said BTC pushes through resistance “as if it was not even there.”
Can the BTC price recover the level of $ 119,000, then go up even more?
Bitcoin price signals are strong upwards
THE BTC price On the daily graph, shows renewed signs of force after a period of prolonged consolidation. A classic head and reverse shoulder pattern formed, with the left shoulder, the clearly marked right head and shoulder.
This bullish reversal configuration has now broken above its neckline, confirming potential upward continuation.
Supporting this bullish structure, the price of Bitcoin managed to recover the key levels of Fibonacci key.
After having rebounded from the retracement of 0.786 around $ 108,500, the BTC price is fell above 0.236 Fibonacci nearly $ 118,280, indicating that buyers regain control.
Meanwhile, the 50 -day simple mobile average (SMA) ($ 113,428) turned upwards. It is comfortably higher than the 200 -day SMA ($ 104,972), forming a golden cross -structure which generally signals the start of a longer term upward trend.
BTC targets $ 129,000 in the short term
Looking at the indicators, they support the short -term bullish position. The relative force index (RSI) amounts to 62.55, placing it in bullish territory but not yet under conditions of overabundance. This gives the price of bitcoin enough space to stage another push.
Meanwhile, the indicator of divergence of Mobile Average Convergence (MacD) has become bullish, the blue MacD line rising above the Orange signal line.
The histogram has also climbed into a positive territory, while the green bars began to form, which shows the strengthening of the momentum and the purchase pressure.
In addition, the monetary flow of Chaikin (CMF), seated at +0.04, is slightly positive. This indicates that capital entries gradually exceed outputs, which suggests that the accumulation is underway.
This feeling can also be confirmed by the total point of funds negotiated in exchange BTC (ETF) RinsingThis shows that the FNB BTC recorded three consecutive days of positive entries.
With the confirmed break in the reverse head and shoulder model, the immediate target is near all time (ATH) of BTC around $ 124,000.
If buyers manage to exceed this level with a strong volume, the move could open the door to a new price discovery of more than $ 129,000, or about 8.93% compared to the current level.
Leaving, $ 115,000 (SMA and old resistance at 50 days) now serve the first major support, followed by $ 108,500 near the level of 0.786 Fibonacci.
Related news:
Best wallet – diversify your crypto wallet
- Easy to use cryptographic wallet, easy to use
- Get early access to ICO to toys to come
- Multi-chaînes, multi-walk, non-guardians
- Now on the App Store, Google Play
- Pape to win the native token $ the best
- 250,000+ monthly active users
Join our Telegram Channel to stay up to date on the coverage of information on the breakup
