Bitcoin (BTC) is showing signs of a potential bullish shift as buyers challenge key resistance, while technical indicators suggest short-term consolidation for the Bitcoin price. Long-term holder activity adds uncertainty, but continued institutional demand is supporting market confidence and strengthening the possibility of further upside.
At the time of writing, BTC is trading at $79,105.78 with a 24-hour trading volume of $23.45 billion and a market capitalization of $1.58 trillion. However, the BTC price has remained stable over the last 24 hours.
Source: CoinMarketCap
Bitcoin Price Could Target $100K if $83K Breaks
The crypto analyst Crypto Patel revealed that Bitcoin’s higher-timeframe structure remains bearish after its $126,000 all-time high, with lower highs and lower lows still defining the broader trend.
However, the recovery from around $57,800 has produced a potential change of character, suggesting buyers may be challenging seller control. The Bitcoin price is now testing the crucial $79,000–$83,000 bearish order block.
Source: Crypto Patel’s X Post
A confirmed daily close above $83,000 followed by a successful retest could strengthen bullish momentum and open a path toward $89,000–$91,000, with $97,000–$100,000 next.
Conversely, rejection from this resistance would preserve the bearish structure and expose BTC to deeper declines toward $65,000 and potentially $50,000. The $83,000 level now represents the key directional trigger.
Also Read: Bitcoin vs Gold: CZ Says $1 Million BTC Could Come Much Sooner
MACD and Bollinger Bands Point to Short-Term Consolidation
According to the TradingView chart analysis, the Bitcoin price shows a sharp upward breakout following extended summer consolidation around $63,000. After surging past the upper Bollinger Band to reach highs near $85,000, Bitcoin trades near $79,127.
The Bitcoin price remains supported above its 20-day SMA at $77,969, keeping the dominant trend structurally bullish despite minor pullbacks.
Source: TradingView
The momentum oscillators point to a brief cool-down period in the short term. The MACD shows a bearish cross where the line at 3,081 falls below the signal line at 3,340, along with the histogram reading of -259.
Even though the momentum is waning at the moment, the price is still above important moving averages.
Bitcoin Consolidation Triggers OG Holder Activity
Market Watcher CryptoQuant pointed out that the extended period of consolidation in Bitcoin has seemed to test the conviction of not only the early adopters but also the entire market.
Known as OGs, the early Bitcoin believers have always held their positions despite various cycles in the market. It would seem that even the OGs are beginning to get concerned about their positions.
Source: Cryptouant’s X Post
This is not an indication of an immediate sell-off, but it does illustrate that the sentiment of long-term holders is shifting.
If there is a greater movement of dormant coins towards exchange wallets, then this would create pressure for distribution. On the other hand, the movement of these coins to private wallets might simply be a change in holdings.
Bitcoin ETFs See $987M Inflows in One Week
The data from Wu Blockchain highlighted that Bitcoin ETFs witnessed an inflow of $987 million during the period from August 31 to September 4.
This is the third successive week when Bitcoin ETFs saw a net inflow. Meanwhile, there were inflows worth $218 million for Ethereum spot ETFs during the week, making it the third consecutive week of inflows for the latter.
Source: Wu Blockchain’s X Post
On the other hand, Solana spot ETFs had an outstanding inflow trend for 10 weeks, bringing in $6.18 million in the current week.
The XRP spot ETFs witnessed net inflows of $18.96 million, whereas the HYPE ETFs witnessed net inflows of $12.27 million. The general positive flows indicate that investor interest is spreading to various digital currencies.
What Happens Next?
The future course of the Bitcoin price will be contingent on the bulls managing a close above $83,000. If the bulls manage to breach the resistance level and retest it, the bulls would build up momentum towards $89,000 to $91,000, even pushing towards $100,000; however, if the bulls fail at breaching the resistance level, this could lead to selling towards support levels.
Also Read: Capital B Buys 376 Bitcoin for €25.3M, Holdings Reach 3,521 BTC
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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