Bitcoin Price Forecast: Will BTC Surge to $130K This Week?
BTC has seen significant growth after breaking from a downward trend, now aiming for its previous all-time high. Price movements indicate potential volatility in the coming week.
Bitcoin has continued its upward trend after breaking out of a descending resistance zone, effectively reclaiming key structural levels and moving towards its previous peak of $122K–$124K.
While the fervor remains positive, a minor dip to around $114K–$118K could be beneficial for rebalancing before further advances to new heights are anticipated.
Technical Analysis
Daily Insights
Bitcoin’s ascent has recently invalidated a bearish trend that characterized the price movements of September. This breakout was paired with an aggressive shift towards upper price boundaries, possibly reaching the buy-side liquidity sitting just above the historical peak close to $124K.
Currently, prices are maintaining above the breakout threshold around $116K–$118K, establishing $112K–$114K as vital support in case of a pullback. Remaining above this support strengthens the bullish outlook, with the next liquidity target hovering around the $124K–$125K region.
4-Hour Analysis
The recent rally from the identified demand area around $108K has triggered a strong upward momentum, leaving behind several crucial trading zones. A controlled retracement towards $115K–$117K is likely to attract renewed buying interest leading towards $124K, where significant buy-side liquidity resides. If the current momentum is sustained, we may see a breakthrough above the $124K mark before consolidation occurs, in line with the larger bullish trend, as long as prices stay above $111K–$112K.
Sentiment Insights
Bitcoin’s open interest on Binance has soared to unprecedented levels, now surpassing the previous peak from August of $14.306 billion. This surge corresponds with Bitcoin’s climb from $108K to $124K, reflecting healthy market participation.
However, high leverage implies an increased risk factor, as elevated open interest can facilitate rapid upward movements yet may lead to liquidation events if momentum falters.
Overall, the indicators favor continued growth, pushing BTC into the next liquidity zones between $125K and $130K, though caution is warranted given market sensitivities. Traders should monitor open interest trends closely, which will be critical in determining whether BTC can smoothly ascend to $130K or face potential setbacks.
