Crypto
Bitcoin Confirms Major Explosive Signal, Price Set To Hit $100,000
Bitcoin nears a breakout as long-term holders accumulate; Strategy buys 1,665 BTC and shorts face liquidation, putting $100,000 well within reach now.
BLOCKINSIDERLoadingBitcoin nears a breakout as long-term holders accumulate; Strategy buys 1,665 BTC and shorts face liquidation, putting $100,000 well within reach now.
Bitcoin (BTC) is flashing its strongest bullish setup in months, with $100,000 now firmly in the crosshairs. The asset trades near $82,948 as of September 28, hovering just below a key breakout zone.
A parabolic curve building since July points to a rally that could nearly double the asset's value. Strategy's renewed buying and positive ETF flows add fuel, but the next few price levels decide everything.
The parabolic curve that began forming in July is now building its third base on the daily chart. Base 1 formed through July and early August, followed by a sharp move higher. Base 2 developed across late August and September before another push upward.
The curve traces back to the early July low near $58,000, when BTC bottomed after months of decline. Since then, each consolidation has produced higher lows, showing buyers absorbing supply at every dip. Each base has resolved with a stronger surge, and the pattern now sits at its final stage.
Historically, this stage precedes a steep advance in which value can rise by as much as twice. BTC needs to clear $86,630 and $87,350 to confirm the breakout after the third base.
Support at $81,209 has held so far, keeping the structure intact. A move past the resistance levels would put the $100,000 mark within reach. That would extend the momentum from the sharp August surge.
The weekly chart backs this outcome through a double bottom pattern. BTC formed its lows inside the $58,000 to $62,000 demand zone, first in February and again around June.
Price has since broken above the descending trendline and reclaimed the $77,000 region.
BTC now tests resistance near $83,800, sitting on the verge of confirming a breakout rally. The measured move from the pattern points to roughly $100,450, a gain of about 30%.
The Binance liquidation heatmap shows where the next fuel for the rally sits. Most short contracts cluster at two levels above the current price. The first sits around $85,000, where a dense band of leveraged shorts is visible.
The next major cluster sits at $87,335, where $1.5 billion in shorts face liquidation. Liquidations force short sellers to buy back BTC, which pushes price higher and triggers further closures. A sweep through those levels would provide the confirmation BTC needs for a rally. Shorts positioned near these zones grow more exposed with every grind higher.
Long-term holders (LTH) provide the second layer of support. Glassnode's Hodler Net Position Change turned positive at the start of September after weeks of selling in August. Accumulation peaked above 25,000 BTC around September 21, close to the local top.
Holder conviction wavered last week, with net purchases slipping to roughly 16,500 BTC. That confidence is now back, with the latest reading climbing above 23,000 BTC.
Credit for this also goes to external developments, including the return of Strategy's buying and positive spot ETF netflows. Strategy announced the purchase of another 1,665 BTC worth $138 million in the last seven days. The buy lifts the company's holding to 847,666 BTC.
Spot ETF demand matters because it pulls coins out of circulating supply. Steady corporate buying and consistent inflows signal that institutional appetite has returned. Both tighten supply just as technical resistance comes into play.
Together, they give buyers the backing needed to push through $87,350.
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