Bitcoin Price Surges to $118,796 with Positive Technical Outlook
Bitcoin (BTC) continues its upward momentum, currently priced at $118,796 as of October 2, 2025, marking a daily gain of +3.87% (+4,424.18). The recent break above $117,700 resistance indicates potential for further price appreciation, although the short-term RSI suggests possible downward corrections.
Technical Analysis Overview:
- Short Term: BTC is in a falling trend channel but has broken resistance at $117,700, with a technical recommendation score of 69, hinting at a positive outlook despite slight risk.
- Medium Term: Maintaining a rising trend channel, buyers are comfortable at elevated prices. Resistance at $123,000 poses a challenge, but surpassing it would be highly bullish (recommendation score: 64).
- Long Term: With a strong upward trajectory and breaking past the $106,000 resistance, long-term sentiment is very positive, reflected in a high recommendation score of 91.
Liquidity risk remains low, while medium volatility is expected, characteristic of the crypto market.
From a yearly perspective, Bitcoin has surged 96.11% from its yearly low, with only a minor drawdown of 3.74% from the high. Short-term resistance stands at $109,533.36, and the long-term trading range targets $139,350 to $153,000.
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