Bitcoin (BTC) Price Prediction: Bitcoin Bulls Target $118K—Eyes $140K in September

Market watchers are closely analyzing price action, technical patterns, and institutional behavior as Bitcoin navigates short-term volatility. Despite recent dips, optimism remains high, suggesting the cryptocurrency could be setting up for a decisive upward move.

As of late August 28, 2025, Bitcoin trades around $113,200, up 2.43% over the past 24 hours, according to Brave New Coin. The cryptocurrency recently rebounded from a seven-week low of $108,665, forming a channel-like intraday uptrend that has attracted retail buying. However, momentum remains fragile, constrained by low participation in open interest and cautious sentiment indicators.

BTC on the 4-hour chart: A decisive breakout above $113K could ignite a strong push toward $117,500. Source: @nilesh_rohilla via X

Market analysts are closely watching the $117,000–$118,000 zone, describing it as a critical resistance that could determine whether BTC continues its upward trajectory or faces another correction. Retail traders have been active in both spot and futures markets, providing support during dips, while whale and institutional activity has shown net selling in the same period.

Top traders and chart analysts have identified multiple bullish patterns shaping Bitcoin’s short-term outlook. On the one-hour chart, Josh Olszewicz highlighted an inverse head-and-shoulders formation, a classic bullish reversal signal. The pattern’s “neckline” sits near $112,500, and a successful breakout above this level could confirm a renewed uptrend.

Bitcoin’s familiar setup: shake out the timid, reward the patient—$BTC is building momentum for another major rally. Source: @MerlijnTrader via X

Crypto analyst Merlijn The Trader (@MerlijnTrader) noted on X that Bitcoin often sweeps below the 100-day moving average before surging higher. “The breakout is designed to make you rich,” Merlijn stated, emphasizing the importance of holding through short-term dips. Historical analogies from 2024 suggest the market may be setting up for a repeat of this “fakeout-and-rally” pattern.

Meanwhile, Peter Brandt cautioned about a potential double top formation, warning that BTC might struggle to surpass $117,570 without a decisive breakout. This divergence of technical signals highlights both opportunities and risks for traders in the coming sessions.

Bitcoin’s recent intraday recovery has been constrained by resistance at the Fibonacci 50% retracement level and the four-hour 50 exponential moving average, converging around $113,200. Analysts note that breaking through this zone could allow BTC to test the weekly pivot at $113,480, potentially flipping the short-term trend back into net gains.

BTC on the 4-hour chart: Eyes on $124K breakout for bullish momentum or a drop below $111K signaling further downside, with a potential bounce toward $122K–$123K. Source: Hosein_me on TradingView

Support levels are equally critical. A failure to hold the 20 EMA, aligned with the Fibonacci 38.2% retracement, could expose Bitcoin to renewed downside pressure, possibly revisiting lows near $108,700. As a result, traders are closely watching intraday price action to gauge whether current momentum can evolve into a sustained rally.

Institutional appetite for Bitcoin remains a key factor in shaping its trajectory. Large investors have been selling during recent dips, but retail and mid-sized traders have been absorbing much of the selling pressure, suggesting strong hands are accumulating. Platforms like Binance report that open interest remains flat, reflecting cautious optimism as the market tests critical levels.

Binance Fear & Greed Index stands at 45, indicating moderate investor anxiety. It is regarded by the analysts as a transient slip in sentiment, not structural, and therefore Bitcoin has room for possible growth if the resistance levels are breached.

Analysts largely agree that the $117,000–$118,000 level is the next milestone for Bitcoin. Should BTC hold this level, technical indicators with support from previous trends and building retail participation hint at a possibility of a rally to $140,000 in September.

Bitcoin (BTC) was trading at around $113,208, up 2.43% in the last 24 hours at press time. Source: Bitcoin Price via Brave New Coin

“The market is stuck between recovery and potential shakeouts,” wrote Nilesh Rohilla, a crypto strategist. “If strong hands resist selling their positions, Bitcoin can make these short-term bounces into a general bullish trend.”.

Though there may be short-term volatility, broader market structure is making the case for more up, with BTC on the cusp of challenging key resistance in the weeks to come. Investors need to monitor technical triggers and sentiment closely, with knowledge of Bitcoin’s inherent volatility.