Bitcoin (BTCUSD) Price Initiates another Upward Move

Bitcoin (BTCUSD) Price Forecast: September 20

Today, the Bitcoin market initiated another upward move, reaching an all-time high of $117,998, catching the attention of crypto enthusiasts. The coin made a strong comeback yesterday, stalling again above the targeted 116k. The coin’s price is expected to continue its bullish run, and if the bulls can break through the $123,740 peak value, the price may rise much further. In that case, we should anticipate strong upward momentum up to the upper resistance level of $125,000 and beyond, creating an exciting opportunity in the crypto world.

Key Levels:
Resistance Levels: $117,000, $118,000, $102,000
Support Levels:    $98,000, $97,000, $96,000

BTC (USD) Long-term Trend: Bullish (Daily Chart)

Today, Bitcoin is moving in a favorable direction. In its longer time period, the price appears to be doing well and is currently trading in a bullish trend. This is a buy signal and looks good for long traders.
The bulls’ pressure to the $117,000 high mark in the last session has enabled the crypto’s price to initiate another uptrend towards the upper resistance in its recent high.

Earlier today, the BTCUSD price broke out to a high at the $117,998 resistance mark above the moving average lines as the daily session began today; this looks good for longs and also indicates more forces from the buy traders and bullish commitment.

Given the outlook, a bullish breakout confirmation reflecting the increased market sentiment will occur if the bulls move higher and close above the $123,740 high barrier.

In addition, the BTCUSD uptrend may continue, and the emergence of more buyers to pump ahead is likely, as indicated by the stochastic signal pointing up.

In light of this, buyers may drive the coin price to as high as $125,000 in the days ahead as the crypto initiates another uptrend in the higher time frame.

BTC (USD) Medium-term Trend: Bullish (4H Chart)

The high inflow from investors has made the BTCUSD price initiate another uptrend and trade in the bullish trend zone in its medium-term outlook.
The coin is trading above the level $117,000 and presently facing overhead resistance at the recent high.

The previous bullish trend at a $117,000 high level has sustained the crypto’s price to initiate another uptrend above the supply levels in its recent correction.

At the time of writing, Bitcoin price initiates another uptrend to the $117,998 supply level as the 4-hour chart resumes today, reflecting broader crypto market trends.

If the rising pattern persists and bullish momentum is sustained above the current resistance trend lines, further bearish sentiment will be stopped.

Additionally, the daily stochastic is in an uptrend. Hence, if the buy traders can renew their buying actions and break above the current price level, the next price target could be the $125,000 upper resistance level in the coming days, as the crypto initiates another uptrend and witnesses a new recovery rally in its medium-term time frame.

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