Bitcoin’s Wild Ride: Will It Hit $150K or Crash Harder Than Your Ex’s Texts? 🚀💸

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Key takeaways (because who has time for nuance?):

  • Bitcoin dipped to $122,500 on Tuesday, but apparently, it’s just taking a coffee break. ☕ No overheating here, folks!

  • The $135,000 resistance is like that one friend who always says, “I’m coming!” but never shows up. Meanwhile, $120,000 is the trusty sidekick, holding the fort. 🛡️

Market analysts (aka the people who pretend to know what’s happening) say Bitcoin’s upside is still intact, despite a 1.7% correction from its all-time high of $126,200. Because, you know, what’s a few thousand dollars between friends? 🤷♂️

Bitcoin: The “Small Pullback” That’s Basically a Dramatic Pause for Effect

“BTC has been in an up-only mode,” said analyst Mags in an X post on Tuesday, because apparently, Bitcoin is the eternal optimist we all wish we could be. 🌈 Only one red candle in the past 11 days? Someone’s been eating their financial greens! 🥦

The BTC/USD pair is taking a “small pullback” (read: dramatic sigh) toward the $123,300 support level. If it closes above that, it’s off to the races again. If not? Well, $120,000 is waiting with open arms. 🏃♂️💨

“Overall, dips are for buying, and the next resistance is near $135,000.”

MN Capital founder Michael van de Poppe (yes, that’s his real name) says Bitcoin is just “consolidating around the all-time high,” which is basically financial code for “taking a nap before the party.” 🥱

“It’s building up stamina for the next big breakout toward $150K.”

Because, of course, Bitcoin needs a pre-workout snack before hitting the gym. 🏋️♂️

CryptoMoon (yes, that’s a real source) says Bitcoin might chill between $122,000 and $124,000 for a bit, because even digital currencies need a spa day. 🧖♂️

Bitcoin’s Momentum: Like a Teenager on Red Bull

Private wealth manager Swissblock (fancy!) says Bitcoin’s upward momentum is still going strong, despite the slight correction. Their chart shows a “rare” setup where momentum is breaking through resistances like a bull in a china shop. 🐂💥

“Momentum is igniting at resistance, not fading from it.”

But, they add, “a bit of short-term friction is needed to build deeper acceleration.” Because, you know, even Bitcoin needs a little drama to keep things interesting. 🎭

Glassnode (the onchain data whisperers) says Bitcoin’s RSI jumped to 66 from 44 in the last seven days, which is basically financial code for “things are getting spicy.” 🌶️

Spot demand is also accelerating, with spot CVD turning positive and rising to $68.7 million. Trading volume on centralized exchanges? Up 32% to $9.27 billion. Someone’s been shopping! 🛍️

“The rise supports recent price momentum, suggesting stronger investor engagement and confidence. Although, maintaining this elevated activity will be key to sustaining the uptrend.”

Onchain Data: The Crystal Ball of Bitcoin Price Levels

Short-term holder (STH) cost basis shows that STHs are still in the game and not throwing in the towel. Yet. 🏳️

If Bitcoin retests the upper band, it could hit $133,460. And if it goes higher? The “over-heated” band at $150,000 is waiting. But don’t worry, no panic selling or euphoria… yet. 😬

On the downside, the first major support is at $113,300, which has historically been Bitcoin’s safety net. Like that one friend who always catches you when you fall. 🤲

So, will Bitcoin hit $150K or crash harder than your ex’s texts? Only time (and a lot of charts) will tell. Stay tuned, and maybe keep a bar of gold handy. Just in case. 🏦

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2025-10-07 18:35