Basic Points:
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Bitcoin can rise to $ 119,500 while price indicators have “overbought.”
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Entrepreneurs support Retest to combine its latest rebound, which is close to 10% a week.
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The ETF flows a total of $ 1.6 billion in three days, with a broken break at the top 20 ETF of the property.
Bitcoin (Btc) is ready for a short -term pullback and support retest while price scale flashing “overbought.”
Entrepreneurs warned on Thursday that BTC/USD could withdraw less next after a six -week hit of more than $ 119,000.
RSI calls for BTC prices to rest
Bitcoin gained about 10% last week while Bulls Stage was a comeback, Echoing upside down with gold.
In the middle of the journey to more than $ 119,500 in Bitstamp, per data from Cointelegraph Markets Pro and TradingviewHowever, market participants see the cooling of the rally before continuing. This is due to price indicators that become extremely hot.
“Looking at this further, the pullback/retest makes sense as the LTFs have shown,” the famous businessman Roman wrote in part of a X post on the subject.
“Everything is very thoughtful but there are no signs of initial weakness. Simple breakout & retest.”
Among the evidence that supports such a move is the Index of Kamag -child strength (RSI), now stable in the territory of “overbought” at about 90/100. It has marked the highest four -hour reading since July, when BTC/USD first exchanged over $ 123,000.
RSI is a Classic leading indicatorAnd the excessive thought values in the lower hours of time can foremost a market rotation.
In the day -to -day and weekly charts, the situation has been proven to be different, with the RSI remains “overbought” throughout the final stage of previous bull markets.
“The volume, RSI, and MacD look great for continuing at 124K over the next few days,” Roman summary.
Bitcoin ETFS emphasizes bullish momentum
Continuing to the RSI, Caleb Franzen, creator of the Cubic Analytics financial research source, shouted a bullish divergence playing in Bitcoin compared to S&P 500 on Wednesday.
Related: Bitcoin pushes $ 118K while reviewing the US Gov’t Shutdown ‘Non-Event’
It comes from reviewing the largest Bitcoin exchange exchange fund (ETF), Blackrock’s Ishhares Bitcoin Trust (IBIT).
Bullish RSI Divergence for Bitcoin related to S&P 500 (Ibit/Spy). pic.twitter.com/hgh2xzopwc
– Caleb Franzen (@calebfranzen) October 1, 2025
Data from the UK investment company Farside Investor confirms net inflows across the US ETF Cohort of over $ 1.6 billion this week. Ibit contributed $ 600 million of the total.
At the same time, Eric Balchunas, a dedicated ETF analyst in Bloomberg Intelligence, has confirmed its entry into the top 20 largest ETFs of ownership.
“Someone asked me how long up to the top 10. revealed In X.
“That is said, the other ETFs that are also growing so I don’t know. If I forced me to set the over/under Xmas 2026.”
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
