Bitcoin price prediction: BTC aims for $118K as MVRV indicates bullish change in market cycle
Bitcoin (BTC) Price Prediction: Analyzing Bitcoin’s Potential Bullish Surge
Bitcoin (BTC) is on the cusp of a significant breakthrough, with indicators suggesting a surge above $118,000 in the near future. Despite recent fluctuations, Bitcoin has remained resilient, showing promise for a bullish trend based on various on-chain metrics and historical patterns post-halving.
Currently trading around $115,000, Bitcoin has experienced a slight pullback from its recent high of $117,300. Analysts note that the current situation indicates consolidation rather than a clear trend, with September expected to bring volatility following Powell’s speech at Jackson Hole.
Technical indicators offer mixed signals, with the Relative Strength Index (RSI) hovering in neutral territory and the MACD showing bearish divergence. A bearish trendline has formed, presenting resistance around $117,000 to $118,000. Breaking above this level could lead to liquidity zones near $122,000, where many short positions are concentrated.
The presence of CME gaps implies a potential revisit to the $117,000 area before a major breakout. These gaps often serve as price recovery magnets for Bitcoin, according to crypto analyst Charles Ledoux. Additionally, key indicators such as the MVRV Z-Score suggest undervaluation and a potential shift in trend, signaling a bullish momentum awaiting confirmation above $118,000.
BTC has demonstrated resilience amid significant inflows and outflows on exchanges without breaching key support levels. The upcoming halving in 2025 further enhances upside potential due to reduced supply pressures, a trend that historically leads to higher prices.
The recent remarks of Jerome Powell at the Jackson Hole Symposium triggered short-term volatility but also hinted at a massive Q4 rally for Bitcoin. Technical patterns and accumulated support levels suggest a potential rally above $120,000, with bullish sentiment prevailing as institutions monitor strategic accumulation zones.
Bitcoin is increasingly seen as an inflation hedge and a safe haven asset amidst macroeconomic uncertainties, attracting demand from long-term holders seeking stability. Looking ahead, sustained consolidation above $118,000 could pave the way for a rally towards $131,000, while failure to break above might lead to a short pullback.
The combination of technical indicators, on-chain metrics, and historical trends paints a picture of a potential bullish cycle reversal. Investors should closely monitor Bitcoin’s price movements, whale activity, and long-term accumulation trends. As Bitcoin continues to solidify its position as a flagship digital asset and a hedge against inflation, its trajectory in Q4 2025 remains critical in a volatile market environment.
