Bitcoin Breaks $116K Barrier - BTC Price Eyes Standard Chartered's $135K Target
Zach Anderson Sep 15, 2025 08:59
Bitcoin trading at $114,784 after briefly surging past $116K. Technical indicators show bullish momentum despite minor pullback as analysts target $135K by month-end.
Quick Take
• BTC currently trading at $114,784.51 (-0.98% in 24h) • Bitcoin's MACD histogram shows strong bullish momentum at 681.93 • Standard Chartered predicts BTC price will reach $135,000 by September end • Bitcoin successfully broke above $116,000 resistance level this week
What's Driving Bitcoin Price Today?
The most significant catalyst for Bitcoin's recent surge came yesterday when the BTC price broke decisively above the $116,000 mark. This breakthrough represents a crucial technical milestone that many traders had been watching closely.
Standard Chartered's bold prediction that Bitcoin will hit $135,000 by the end of September continues to fuel optimism in the crypto community. The investment bank cited substantial inflows from Bitcoin ETFs and increased adoption by treasury companies as primary drivers for this bullish forecast.
However, Bitcoin faced some headwinds earlier this week when historical data reminded traders that September 8th has traditionally been challenging for BTC price action. The date historically shows a 72% probability of decline with an average drop of 1.30%. While this bearish pattern did create some initial selling pressure, Bitcoin's resilience in maintaining levels above $114,000 demonstrates underlying strength in the market.
The combination of institutional buying pressure through ETFs and corporate treasury adoption appears to be outweighing traditional seasonal weaknesses, providing a solid foundation for the current BTC price levels.
Bitcoin Technical Analysis: Bullish Signals Emerge
Bitcoin technical analysis reveals several encouraging indicators that support the recent price surge. The most compelling signal comes from Bitcoin's MACD, which shows a histogram reading of 681.93 - indicating strong bullish momentum that's accelerating.
Bitcoin's RSI currently sits at 54.83, placing it firmly in neutral territory. This BTC RSI reading suggests there's still room for upward movement before reaching overbought conditions, which typically occur above 70. For traders, this neutral RSI provides confidence that the current rally isn't overextended.
The moving average structure also supports the bullish case. Bitcoin's price is trading above both the 7-day SMA ($114,712.76) and the crucial 20-day SMA ($111,961.14). More importantly, the BTC price remains well above the 200-day SMA at $102,637.44, confirming the long-term uptrend remains intact.
Bitcoin's Bollinger Bands show the price near the upper band at $116,862.53, with a %B position of 0.7880. This indicates Bitcoin is trading in the upper portion of its recent range, suggesting continued strength while approaching potential resistance areas.
Bitcoin Price Levels: Key Support and Resistance
Based on Binance spot market data, Bitcoin support levels are clearly defined with immediate support at $107,255.00. This level has proven significant in recent trading and represents a crucial area where buyers have consistently stepped in. Should the BTC price face any correction, this $107,255 level would be the first major test.
The strong Bitcoin support levels extend down to the same $107,255 area, which coincides with the lower Bollinger Band region. This convergence of support indicators makes this level particularly important for risk management.
On the upside, BTC resistance appears at the recent high of $116,757.99. Breaking above this level with conviction would open the path toward Standard Chartered's $135,000 target. The stronger Bitcoin resistance sits much higher at $124,474.00, representing a significant challenge that would require substantial buying pressure to overcome.
The current pivot point at $115,417.23 serves as a key reference level for intraday trading. BTC price action above this pivot supports the bullish bias, while a break below could signal short-term consolidation.
Should You Buy BTC Now? Risk-Reward Analysis
For aggressive traders, the current setup presents an attractive risk-reward opportunity. The BTC price is showing clear bullish momentum while maintaining support above key moving averages. Entry near current levels with stops below $107,255 offers a reasonable risk-reward ratio targeting the $124,474 resistance zone.
Conservative investors might consider dollar-cost averaging into positions, taking advantage of any pullbacks toward Bitcoin support levels around $107,255. This approach capitalizes on the overall bullish trend while managing downside risk.
Swing traders should monitor the BTC/USDT pair closely for breaks above $116,757.99, which would confirm the continuation of the uptrend toward higher targets. The daily ATR of $2,415.70 provides guidance for position sizing and stop-loss placement.
Risk management remains crucial given Bitcoin's inherent volatility. Despite the bullish technical setup, traders should be prepared for potential corrections, especially considering the historical September volatility patterns. Setting stops below the $107,255 support level helps protect against significant downside moves while allowing participation in the upward trend.
Conclusion
Bitcoin's break above $116,000 marks a significant technical achievement that aligns with increasingly bullish institutional sentiment. The combination of positive momentum indicators, supportive moving averages, and neutral RSI conditions creates a favorable environment for continued BTC price appreciation over the next 24-48 hours.
While Standard Chartered's $135,000 target might seem ambitious, the current technical foundation and institutional adoption trends provide credible support for substantial upward movement. Traders should focus on the immediate resistance at $116,757.99 as the next key level to watch, with stops positioned below $107,255 to manage downside risk effectively.
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