$120K Breakout Mirrors August Move
Analyst Rekt Capital posted that Bitcoin has performed a daily close above the $120,000 mark. In August, a similar close led to a successful retest of the same level as support, followed by a push toward $124,500. The chart shows both events marked with green circles.
Bitcoin has performed a Daily Close above ~$120k (black)
An identical Daily Close in mid‑August (green circle) preceded a successful retest of $120k as new support before preceding upside into $123400 (red)
Will the not‑too‑distant history repeat?$BTC#Crypto#Bitcoinhttps://t.co/PwDpZqC8dHpic.twitter.com/IUPmTND4A9
— Rekt Capital (@rektcapital) October 3, 2025
Current price action is showing a repeat of that setup. If the level holds, the market may aim for $123,350 and beyond. If it fails to hold, nearby supports are located around $117,288 and $114,249. In another post, Rekt Capital added that Bitcoin is also testing a 2.5‑month downtrend line near $119,000.
Additionally, on the weekly timeframe, the analyst referred to the possibility of Bitcoin entering “Price Discovery Uptrend 3.” The long‑term chart shows a pattern that began in early 2023, where the price breaks out, retests resistance as support, and continues higher.
That structure has repeated at multiple stages. Bitcoin is now positioned at $120,000, and a weekly close above this level may support a continuation into new territory. A green zone on the chart marks the potential area for this movement.
Momentum May Slow as RSI Peaks
On the 4‑hour chart, analyst Ted Pillows pointed out that the RSI has reached 80.18, the highest level since July. The reading places BTC in overbought conditions on that timeframe.
$BTC 4H RSI is now the most overbought since the July top.
Usually such instances result in a correction or sideways price action for some time. pic.twitter.com/81EE4fu9FD
— Ted (@TedPillows) October 2, 2025
The RSI reading could suggest a pause or consolidation phase after the recent rally from below $110,000.
Monthly Chart Targets $203K by Year-End
Crypto Seth offered a long‑term chart that shows BTC inside a growth channel. He noted the past rallies in the final quarter of the previous cycles: 368% in 2017 and 83% in 2021. Based on that, the analyst is now considering a 70% rise to around $203,530 by the end of 2025.
The chart shows that the price remains well within the bounds of the channel.
2017: $BTC pumped 368% last 3 months of the bull market.
2021: 83%
2025: 70% from now to Dec sounds reasonable? Surely with all the ETFs and adoption it can give me another 70%???? pic.twitter.com/6OSZPiWhTl
— Crypto Seth (@seth_fin) October 2, 2025
The structure remains intact, with no signals of a market top yet.