Bitcoin Holds Strong In ‘Wall Of Worry’, Path To $183,000 Remains Open – Analyst

5 hours ago

The Bitcoin (BTC) marketplace registered an awesome 4% terms bounce connected Friday, following dovish argumentation comments by US Federal Reserve Chairman Jerome Powell. The premier cryptocurrency present trades supra $116,000, nullifying earlier losses seen successful the past week. Interestingly, salient marketplace expert Tony “The Bull” Severino has outlined the implications of this terms rebound regarding the BTC terms trajectory.

Bitcoin’s Latest Bounce Revives Bullish Momentum – Price Targets To Watch

In an X post connected August 22, Severino explains that Bitcoin showed resilience successful its terms betterment connected Friday by bouncing disconnected the little bound of a long-standing ascending channel, tagged arsenic the “Wall of Worry.” Notably, this little bound has acted arsenic a cardinal enactment portion for the starring cryptocurrency, stretching arsenic acold backmost arsenic November 2023.

Following each bounce disconnected this support, Bitcoin has popularly reached the precocious boundary, raising galore expectations of a terms surge astatine this moment. According to the transmission analysis, Severino shows that the contiguous method people lies astatine the median enactment astir $144,000, representing a astir 24% beforehand from existent levels.

Interestingly, should bullish momentum persist, the adjacent large absorption portion would align adjacent the precocious bound of the transmission astatine $183,000. However, a decisive interruption beneath the ascending transmission would invalidate the bullish structure, perchance triggering a broader retracement toward the $95,000–$100,000 region.

Bitcoin Market Outlook

At the clip of writing, Bitcoin trades astatine $115,641, reflecting a 3.21% summation successful the past 24 hours. This affirmative show is accompanied by a 38.78% summation successful regular trading volume, presently valued astatine $80.33 billion. However, losses of 1.76% and 1.94% connected the play and monthly charts bespeak that caller marketplace entrants are yet to interruption even.

Meanwhile, crypto expert Jordan Pivato is predicting the existent marketplace rhythm to highest connected October 21, 2025. This projection is based connected humanities information showing that Bitcoin cycles thin to widen somewhat longer with each iteration. While the erstwhile rhythm lasted 548 days, Pivato estimates the ongoing 1 volition span 550 days, placing the apical successful precocious October.

He further points to Bitcoin’s beardown seasonal show successful October arsenic further enactment for his call. Historically, October has been Bitcoin’s astir bullish month, logging gains successful six of the past 12 years and signaling conscionable 2 losing Octobers successful that period. On average, Bitcoin has delivered a 46.72% monthly summation successful October, with a median summation of 10.82%, making it the astir favorable period successful the calendar twelvemonth for BTC performance.