Bitcoin Traders Predict $117K – But Is It Just Wishful Thinking? 🤔💸

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Key points:

  • So, Bitcoin traders are out here playing fortune teller, huh? They think they’ve got the magic numbers for a bullish recovery. Spoiler alert: they don’t. 😏

  • But wait! There’s a risk of a “double top.” Sounds fancy, right? If support fails, we might be looking at $102,000. Just what we need, another reason to panic! 🙄

  • And let’s be real, the Bitcoin bull market is like a bad sitcom – it’s running out of time. If history is any guide, we’re in for a plot twist. 🎭

Bitcoin (BTC) is flirting with $113,000 after Wall Street opened its doors. Buyers are trying to make a comeback, but it’s like watching a bad rom-com. Will they succeed? Who knows! 🤷‍♂️

BTC price outlook hinges on $112,000

According to CryptoMoon Markets Pro and TradingView, we hit local highs of $112,646 on Bitstamp. Great, just what we needed – more numbers to obsess over! 📈

Now, BTC/USD is up over $3,000 from its multiweek lows. It’s like a rollercoaster, but without the fun. Everyone’s got an opinion on where it’s headed next. Buckle up! 🎢

“$BTC has reclaimed its EMA-100 level,” said popular trader BitBull. Sounds impressive, right? But it’s just a fancy way of saying it’s back to where it started. 🙄

“This has been very crucial for bottom formation, and for now bulls are still in control. If BTC holds this level, I wouldn’t be surprised to see a rally towards $116K-$117K level.”

Meanwhile, fellow trader Roman is waving the red flag. He’s saying, “Looks like a breakdown & bearish retest for now.” Thanks for the optimism, Roman! 😬

“I expect lower over the next few days – unless we completely regain 112k support.”

Then there’s Rekt Capital, who’s comparing this pullback to past bull markets. Because, you know, history is always a great predictor of the future. 🙄

“History doesn’t always repeat but it often rhymes,” he says. Well, if that’s the case, I hope it’s a catchy tune! 🎶

“Bitcoin ended up rallying into new All Time Highs by Week 6 before transitioning into Price Discovery Correction 2. History suggests this pullback will likely be shallower & shorter than past ones.”

Is time running out for the bull market?

Now, let’s talk about the bull market’s lifespan. It’s like a ticking clock, and everyone’s got their own theory. Rekt Capital thinks October is the deadline for a bearish trend change. Great, just what we need – a deadline! ⏳

The previous bull market lasted 152 weeks

That’s ~1064 days

Almost 3 years

We are already 144 weeks into this Bull Market$BTC #Crypto #Bitcoin

– Rekt Capital (@rektcapital) August 27, 2025

Contrast that with David Bailey, who’s convinced we’re years away from another bear market. Because, of course, he’s got a crystal ball! 🔮

“There’s not going to be another Bitcoin bear market for several years,” he confidently declared. Well, let’s hope he’s right, or we’re all in for a wild ride! 🎢

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2025-08-27 19:11