Bitcoin Shows Strong Momentum Above $115,000
Bitcoin (BTC) is showing signs it could move higher in the coming days after finishing its second week in a row above the $115,000 level.
Why $115,000 Matters
- Bitcoin bounced 8% from its recent low of $107,270 and reclaimed the key level of $115,000, which had been a barrier since late August.
- Traders say closing the week above this level strengthens the bullish outlook.
- In technical analysis, this point also lines up with the Ichimoku Cloud’s Tenkan line, which often signals the start of short-term uptrends.
- The last time Bitcoin crossed this line (in April), the price surged 44% to hit its record above $124,500.
What Analysts Expect
- Analyst AlphaBTC believes Bitcoin must stay above $115,000, especially with market volatility expected around the U.S. Federal Reserve (FOMC) meeting this week.
- Some predict BTC could reach $118,000 early in the week.
Key Event: FOMC Decision
- The Fed’s decision on Wednesday could be a big factor. Markets expect a 25 bps interest rate cut with a 94% probability.
- Lower rates usually boost assets like Bitcoin. A dovish (soft) tone from Fed Chair Jerome Powell could push BTC toward $120,000.
Technical Outlook
- On the 4-hour chart, Bitcoin is trading inside a “bull flag.” A breakout above $115,800 may confirm further gains toward $122,000.
- Moving averages also show a golden cross (a bullish signal).
- Some analysts project a short-term move to $120,000, while others, like Jelle, see potential for a larger rally—possibly up to $155,000—based on strong momentum indicators.
