Bitcoin Flashes the Same Signal That Triggered a 15% Rally — One Level Holds the Key Now
Bitcoin (BTC) worth is buying and selling close to $111,000, up virtually 2% in the previous 24 hours and about 63% larger year-on-year. The broader development stays bullish, however one acquainted sign has reappeared – the identical one which sparked a 15% rally final month.
Now, the solely factor standing in the means is one vital resistance stage.
The Same Bullish RSI Signal Is Back
The Relative Strength Index (RSI), which tracks shopping for versus promoting momentum, is flashing a hidden bullish divergence, a setup that usually alerts development continuation.
Between June 22 and October 17, Bitcoin’s worth shaped larger lows, whereas the RSI printed decrease lows, a sample exhibiting fading promoting strain whilst the worth stays regular.
This precise setup appeared between June 22 and September 25, simply earlier than BTC jumped 15.7% towards its latest high. If the identical share transfer is revered, this BTC price bounce might settle round $119,900 this time.
The repeated sign now means that consumers are quietly regaining energy and that one other upside transfer could also be forming.
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On-Chain Metrics Back the Bullish Case
Two on-chain indicators strengthen this outlook. The first is Net Unrealized Profit/Loss (NUPL), which measures how a lot revenue holders have on paper. When NUPL is low, there’s much less purpose for buyers to promote.
As of October 23, NUPL sits near its three-month low of 0.48. The final time it touched this stage, Bitcoin’s price gained 3.8% inside days.
The second is the Accumulation Trend Score. This metric tracks how actively totally different teams of buyers are shopping for or promoting Bitcoin based mostly on pockets dimension. It considers each the dimension of every entity’s holdings (participation rating) and the way a lot they’ve added or bought in the previous month (stability change rating).
A price nearer to 1 means bigger entities — corresponding to whales or funds — are aggressively accumulating, whereas a worth close to 0 alerts distribution or inactivity. The metric supplies a clear image of how the greatest market contributors are positioning on-chain.
As of October 23, Bitcoin’s Accumulation Trend Score has climbed again to 1, exhibiting that giant holders are as soon as once more in energetic purchase mode. This shift confirms renewed confidence and helps the broader bullish construction forming on the charts.
This reinforces that the present bounce isn’t retail-driven alone; stronger fingers are stepping in.
$116,500: This Bitcoin Price Level That Decides the Next Move
While the alerts are promising, Bitcoin’s $116,500 stage stays the make-or-break zone. Every rally try since October 11 has stalled there.
A every day shut above it might affirm the RSI’s bullish setup and set off a transfer towards $119,700, aligning with the RSI-driven rally projection of over 15%. Beyond that, even $125,700 comes into view as a Bitcoin price target.
On the draw back, help rests close to $110,050, and shedding that would push BTC towards $108,500 and even $106,600.
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