On the daily chart, Bitcoin remains above the $110,000 level, though recent candles show increased selling pressure. The RSI sits just below 50, signaling neutral momentum but leaving room for a decisive move in either direction.
Crypto Rover highlighted a potential bull flag pattern forming, a classic setup often seen before strong upward continuation. If validated, the move could send Bitcoin significantly higher, with the next major resistance zone aligning near the $120,000 mark.
At the same time, Michaël van de Poppe noted that Bitcoin had broken through a key resistance zone but expects a slight retracement before continuation.
He described the current setup as a “buy the dip” opportunity, adding that October could bring a new all-time high if bullish momentum holds.
Market sentiment remains optimistic, supported by strong spot demand and traders eyeing a potential breakout. Still, short-term risks remain as the price consolidates near crucial support and resistance zones.
As October begins, Bitcoin’s trajectory will depend on whether it confirms the bull flag breakout or slips back into a deeper correction first.
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