Bitcoin Maintains Bullish Momentum with Weekly Close Above $115,000
Bitcoin (BTC) demonstrated sustained strength by closing above the $115,000 mark for the second consecutive week, reinforcing the cryptocurrency’s bullish trajectory. Data from Cointelegraph Markets Pro and TradingView shows BTC/USD ended the week approximately 8% higher than its August 30 low of $107,270, reclaiming a critical resistance level that had capped price action since August 24.
Technical Indicators Signal Upside Potential
Market analyst Titan of Crypto highlighted the significance of the $115,000 threshold on the weekly chart, noting its alignment with the Tenkan line of the Ichimoku Cloud—a key indicator for short-term momentum and trend shifts. A confirmed weekly close above this level is traditionally viewed as a strong bullish signal. Historically, BTC’s crossing above the Tenkan line has preceded notable rallies, such as the 44% surge to over $124,500 observed in late April 2025.
Analyst AlphaBTC emphasized the importance of maintaining support above $115,000, particularly in light of anticipated volatility surrounding the Federal Open Market Committee (FOMC) meeting scheduled for Wednesday. AlphaBTC suggested a probable test of $118,000 early in the week.
Federal Reserve Policy and Price Outlook
The FOMC meeting is expected to be a pivotal catalyst for Bitcoin’s near-term price action. Market consensus indicates a 94% likelihood of a 25 basis point interest rate cut, a move that historically bolsters risk assets like Bitcoin. A dovish stance in Fed Chair Jerome Powell’s post-meeting remarks could further accelerate BTC’s ascent toward the $120,000 level.
Bull Flag Breakout Could Propel Bitcoin Higher
On the technical front, BTC/USD is trading within a bull flag pattern on the four-hour chart. A decisive candlestick close above the flag’s upper boundary at approximately $115,800 would confirm a bullish breakout, targeting a technical price objective near $122,000. This move would represent roughly a 6% gain from current levels.
Additional confirmation comes from the recent formation of a golden cross, where the 50-period simple moving average crossed above the 200-period SMA, historically a bullish indicator for price momentum.
Analyst Projections and Market Sentiment
Several analysts interpret futures market data and chart patterns, such as an inverse head-and-shoulders formation, as supportive of continued upside. Notably, analyst Jelle pointed to a bullish crossover in the weekly Stochastic RSI, a signal that has historically preceded average gains of 35% during the current market cycle. This projection implies a potential BTC price target of approximately $155,000.
Market participants are advised to remain attentive to key technical levels and macroeconomic developments as volatility is expected in the near term.
Disclaimer: This article does not constitute investment advice. All trading and investment decisions involve risk, and readers should perform independent research.
FinOracleAI — Market View
Bitcoin’s sustained weekly close above $115,000, combined with bullish technical patterns and an anticipated Federal Reserve rate cut, sets a positive short-term outlook. The potential breakout from the bull flag pattern and confirmation from moving averages reinforce upside momentum. However, risks remain from macroeconomic volatility and market reactions to Fed communications. Investors should closely monitor the FOMC outcome and Bitcoin’s ability to hold key support levels.
Impact: positive
