Bitcoin (BTC) closed the week above $114,000, a critical level that analysts say could confirm the end of its corrective phase and pave the way for new all-time highs. The cryptocurrency was trading near $115,000, just below the $117,500–$118,000 resistance zone. Analyst Michaël van de Poppe emphasized that breaking this resistance could trigger a move toward $123,000, while this week's Federal Reserve rate decision—with a 94% chance of a 25 basis point cut—adds to potential volatility.
Technical analysis shows Bitcoin forming higher lows since early September, with the RSI indicating strong momentum near overbought territory. A weekly close above $115,000 aligned with the Tenkan line on the Ichimoku Cloud, reinforcing bullish sentiment. Trader Titan of Crypto and analyst AlphaBTC highlighted $115,000 as key support, with a breakout above $115,800 (bull flag pattern) potentially fueling a rally to $122,000–$120,000.
On-chain data from Glassnode reveals cautious distribution among holders, with no strong accumulation trends yet. However, realized cap data shows unprecedented capital inflows: $625 billion entered Bitcoin in the last 18 months, surpassing the $435 billion accumulated from 2009–2024. This metric underscores Bitcoin's ability to absorb real capital despite mixed holder sentiment.
Analysts like Jelle project a 35% rally to $155,000 based on a bullish weekly Stochastic RSI signal, while Rekt Capital notes that reclaiming $114,000 as support mirrors historical patterns that preceded rallies to $130,000. Short-term support levels are at $114,800, $112,000, and $103,000 if resistance holds.
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