Bitcoin is trading near $113,000 after a volatile week, with traders and analysts debating whether the market is preparing for another leg up or facing short-term consolidation.
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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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/bitcoin-price-analysts-predict-buy-the-dip-opportunity/