Bitcoin Surges to $115,790 as Standard Chartered Predicts $135K BTC Target

Quick Take

• BTC currently trading at $115,790 (+0.66% in 24h)
• Bitcoin’s RSI at 58.49 signals neutral momentum with room for upside
• Standard Chartered predicts BTC price reaching $135,000 by September end
• Czech government Bitcoin scandal creates regulatory headwinds

What’s Driving Bitcoin Price Today?

The BTC price movement this week reflects a tug-of-war between bullish institutional predictions and regulatory concerns. Standard Chartered Bank’s bold forecast of Bitcoin reaching $135,000 by the end of September has provided significant upward momentum, with the bank citing substantial ETF inflows and corporate treasury adoption as key drivers.

However, recent regulatory turbulence from the Czech Republic has tempered some enthusiasm. The Czech government’s mishandling of seized Bitcoin assets has sparked public outcry and potential legal actions, highlighting ongoing regulatory risks that continue to impact Bitcoin markets globally.

Adding to the mixed sentiment, while one analyst projects a path to $145,000 by September 2025, a machine learning algorithm predicts a more conservative $101,500 by September 30, 2025, suggesting potential near-term downside from current levels.

Despite these conflicting signals, the BTC price has maintained its upward trajectory, trading comfortably above key moving averages and showing resilience in the face of mixed news flow.

Bitcoin Technical Analysis: Bullish Signals Emerge

Based on Binance spot market data, Bitcoin technical analysis reveals a predominantly bullish setup. The BTC price currently sits at $115,790, positioned well above critical support levels and near the upper Bollinger Band at $116,023.

Bitcoin’s RSI reading of 58.49 indicates the cryptocurrency remains in neutral territory with significant room for upward movement before reaching overbought conditions. The BTC RSI level suggests healthy momentum without excessive buying pressure that could trigger a correction.

The MACD histogram shows a strong bullish reading of 827.84, indicating robust upward momentum for Bitcoin. This technical signal aligns with the overall trend, as the BTC price trades above all major moving averages including the critical 200-day SMA at $102,331.

Bitcoin’s position at 97.41% of its Bollinger Band range suggests the cryptocurrency is testing upper resistance levels, with the BTC price approaching immediate resistance at $116,665. The Stochastic indicators show overbought conditions with %K at 90.70, suggesting potential short-term consolidation.

Bitcoin Price Levels: Key Support and Resistance

Critical Bitcoin support levels emerge at $107,255, representing both immediate and strong support based on recent price action. This level coincides with the lower Bollinger Band region and provides a logical stop-loss placement for long positions.

For BTC resistance, traders should monitor the immediate level at $116,665, which represents the recent 24-hour high. A decisive break above this level could trigger momentum toward the stronger resistance zone at $124,474, approaching Bitcoin’s 52-week high of $123,306.

The BTC/USDT trading pair shows healthy volume of $1.51 billion on Binance spot, indicating sufficient liquidity for both institutional and retail participation. The daily ATR of $2,520 suggests moderate volatility, providing opportunities for active traders while maintaining relative stability.

Should You Buy BTC Now? Risk-Reward Analysis

For aggressive traders, the current setup presents an attractive risk-reward profile with BTC price positioned above key support levels and institutional backing from Standard Chartered’s bullish forecast. Entry near current levels with stops below $107,255 offers approximately 7.4% downside protection against potential upside toward $124,474.

Conservative investors might consider waiting for a pullback to Bitcoin support levels around $111,545 (20-day SMA) to improve their entry point. The BTC RSI neutral reading suggests such a pullback could occur without damaging the overall bullish structure.

Swing traders should monitor the BTC price reaction at immediate resistance levels, as a break above $116,665 could signal the next leg higher toward Standard Chartered’s $135,000 target. However, failure to break resistance combined with the overbought Stochastic readings could trigger consolidation.

The regulatory concerns from the Czech Republic serve as a reminder that Bitcoin remains subject to policy risks, making position sizing and risk management crucial regardless of the bullish technical setup.

Conclusion

Bitcoin maintains its strong bullish trend with the BTC price testing key resistance levels near $116,665. While Bitcoin technical analysis supports further upside potential, traders should remain cautious of overbought conditions in the near term. The next 24-48 hours will likely determine whether Bitcoin can break through immediate resistance and advance toward the $124,474 target, or if consolidation near current levels is needed before the next move higher.

Image source: Shutterstock