Bitcoin is trading near $111,533 and is forming bull signals below the $116,652 resistance; a confirmed breakout could open a path toward a $165,745 target, implying roughly 40% upside while support near $87,159 keeps the long-term structure intact.
Bull breakout above $116,652 targets $165,745 (≈40% upside)
Support holds at $87,159 with hidden bullish divergence on oscillators.
On-chain metrics: daily active addresses >740,000; analysts expect a possible September dip to $94K–$100K.
Bitcoin price near $111,533; breakout above $116,652 could target $165,745 — read market signals and action steps to prepare.
What is Bitcoin’s immediate price outlook and key resistance?
Bitcoin is trading near $111,533 and faces critical resistance at $116,652; a confirmed breakout above this level would likely target $165,745, while support near $87,159 preserves the long-term bullish structure. Short-term retracements may test $94K–$100K before any sustained rally.
How do technical indicators point to $165,745?
Chart analysis shows hidden bullish divergence on oscillators that historically precede extended upward cycles. Fibonacci extensions and multi-timeframe resistance projections align at $165,745 after a decisive close above $116,652. Analysts note a pattern of higher lows since 2022, reinforcing the bullish market structure.
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Past cycles show similar hidden divergences before major rallies, supporting the current bullish interpretation. Support around $87,159 has held through multiple retracements, and accumulation on dips appears steady. If momentum sustains above $116,652, projection tools indicate $165,745 as the next major target.
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Source: https://en.coinotag.com/bitcoin-may-target-165745-after-bull-signals-near-116652-analysts-say/