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Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days
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Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days

Bitcoin Holds Strong In ‘Wall Of Worry’, Path To $183,000 Remains Open – Analyst

Semilore Faleti
Semilore Faleti
1 month ago
3 mins read
Bitcoin

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The Bitcoin (BTC) market registered an impressive 4% price bounce on Friday, following dovish policy comments by US Federal Reserve Chairman Jerome Powell. The premier cryptocurrency now trades above $116,000, nullifying earlier losses seen in the past week. Interestingly, prominent market analyst Tony “The Bull” Severino has outlined the implications of this price rebound regarding the BTC price trajectory.

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Bitcoin’s Latest Bounce Revives Bullish Momentum – Price Targets To Watch

In an X post on August 22, Severino explains that Bitcoin showed resilience in its price recovery on Friday by bouncing off the lower boundary of a long-standing ascending channel, tagged as the “Wall of Worry.” Notably, this lower boundary has acted as a key support zone for the leading cryptocurrency, stretching as far back as November 2023.

Bitcoin
Source: @TonyTheBullCMT on X
Following each bounce off this support, Bitcoin has popularly reached the upper boundary, raising many expectations of a price surge at this moment. According to the channel analysis, Severino shows that the immediate technical target lies at the median line around $144,000, representing a roughly 24% advance from current levels.
Interestingly, should bullish momentum persist, the next major resistance zone would align near the upper boundary of the channel at $183,000. However, a decisive break below the ascending channel would invalidate the bullish structure, potentially triggering a broader retracement toward the $95,000–$100,000 region. 

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Bitcoin Market Outlook

At the time of writing, Bitcoin trades at $115,641, reflecting a 3.21% gain in the last 24 hours. This positive performance is accompanied by a 38.78% gain in daily trading volume, currently valued at $80.33 billion. However, losses of 1.76% and 1.94% on the weekly and monthly charts indicate that new market entrants are yet to break even.

Meanwhile, crypto analyst Jordan Pivato is predicting the current market cycle to peak on October 21, 2025. This projection is based on historical data showing that Bitcoin cycles tend to extend slightly longer with each iteration. While the previous cycle lasted 548 days, Pivato estimates the ongoing one will span 550 days, placing the top in late October.

He further points to Bitcoin’s strong seasonal performance in October as additional support for his call. Historically, October has been Bitcoin’s most bullish month, logging gains in six of the past twelve years and recording just two losing Octobers in that period. On average, Bitcoin has delivered a 46.72% monthly gain in October, with a median increase of 10.82%, making it the most favorable month in the calendar year for BTC performance.

Bitcoin
BTC trading at $115,734 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from iStock, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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