Bitcoin Eyes Breakout Toward $118K+ as Cup-Like Base Forms
Bitcoin (BTC/USDT) is trading at $114,490, up +0.46% in the last 4 hours, and continues to edge higher from the green accumulation zone around $112K. Price action on the 4H chart is shaping into a broad cup-style base — a pattern that often precedes strong upside continuation once resistance is cleared.
The key area to watch now is the $115K–$116.9K resistance band. This zone has capped every rally since late August. A decisive breakout above $116,978 (blue line) would confirm the pattern and open the door to a fast move into the red supply zone between $118K–$120K.
On the downside, the green box around $112K remains the major support where buyers have repeatedly stepped in. As long as $BTC holds above this area on pullbacks, the bullish bias stays intact. A failure to hold $112K would risk a slide back to the lower green zone around $106K.
Key Levels to Watch
Support: $112,000 (accumulation zone), then $106,000
Resistance: $115,000–$116,978; breakout target $118,000–$120,000
With the broader crypto market stabilizing, Bitcoin’s slow grind higher may be setting the stage for a clean breakout. A strong 4H close above $117K could act as a trigger for momentum traders looking for the next leg up.
Crypto Today: Bitcoin steadies above $114,000, Ethereum extends rally as XRP consolidates
Bitcoin holds above $114,000, buoyed by positive market sentiment and growing institutional interest.
Ethereum rises for the fifth consecutive day, reflecting rising demand from ETFs and treasury companies.
XRP finds footing around $3.00 as bulls tighten grip, backed by multiple buy signals.
Bitcoin (BTC) is trading above $114,000, underpinned by growing demand from both retail and institutional investors. On the other hand, Ethereum (ETH) is extending its recovery for the fifth consecutive day, hovering above $4,400, while Ripple (XRP) trades sideways around the $3.00 critical level.
On the macroeconomic data front, the consensus is that the United States (US) Federal Reserve (Fed) will cut interest rates on Wednesday, boosting risk-on sentiment, with investors anticipating risky assets such as crypto and equities to benefit significantly.
Data spotlight: Bitcoin ETF inflows surge as institutional demand grows
Bitcoin spot Exchange Traded Funds (ETFs) experienced a surge in daily net inflows, reaching $757 million on Wednesday. The uptick in inflows reflects growing interest among institutional investors amid optimism for what could be the first interest rate cut by the Fed this year.
Demand for Ethereum spot ETFs in the US also increased mid-week, with inflows of approximately $172 million. BlackRock’s ETHA ETF led with around $75 million in inflows, followed by Fidelity’s FETH with almost $50 million.
Meanwhile, retail interest in XRP is gaining momentum, supported by a steady increase in the futures Open Interest (OI), which averaged at $8.15 billion on Thursday, up from $7.37 billion on Sunday. This rising trend suggests that investors have a strong conviction in XRP’s ability to sustain its recovery to the record high of $3.66 reached on July 18.
Chart of the day: Bitcoin eyes $120,000 breakout
Bitcoin price holds above $114,000 as bulls push to establish a higher support level ahead of the next leg up toward the $120,000 target. A strong technical structure supports the bullish outlook, starting with a buy signal from the Moving Average Convergence Divergence (MACD) indicator, which has been in effect since Sunday on the daily chart.
The steady recovery in the Relative Strength Index (RSI) at 54 from 37 seen on September 1 implies an increase in buying pressure. As the RSI rises toward overbought territory, demand for BTC grows, supporting the anticipated breakout toward the $120,000 level.
Suppose profit-taking slows down the recovery or culminates in a trend correction. In that case, the 50-day Exponential Moving Average (EMA) at $112,984 is in line to absorb the selling pressure and allow for a quick reversal. Extended declines would likely see traders shift their focus to the 100-day EMA at $110,902, which would provide support.
Altcoins update: Ethereum and XRP hold key support
Ethereum remains above $4,400 as interest in the token increases, as evidenced by the uptick in ETF inflows and the recovery from the support level tested at $4,230 on Saturday. The RSI at 54 on the daily chart shows stability above the midline, indicating bullish momentum.
The token also holds above key moving averages, including the 50-day EMA at $4,109, the $100-day EMA at $3,663 and the 200-day EMA at $3,235, supporting the positive market sentiment.
Demand for Ethereum is expected to continue increasing as the RSI rises toward overbought territory. Traders will also look out for a potential buy signal from the MACD indicator, encouraging them to increase exposure. Such a signal manifests when the blue line crosses above the red signal line within the same daily time frame.
Key milestones likely to mark the Ethereum price recovery are the resistance at $4,500, which was tested on August 29, and its record high of $4,956 reached on August 24.
As for XRP, the price holds above several key levels, including the resistance-turned-support at $3.00, a descending trendline and the 50-day Exponential Moving Average (EMA) at $2.918 on the daily chart.
The MACD indicator reinforces the short-term bullish outlook, sustaining a buy signal triggered on Monday. Investors will likely continue to seek exposure as long as the blue MACD line holds above the orange signal line.
The RSI, positioned at 55, shows that bearish momentum is gradually fading, paving the way for bulls to regain control of the trend. Higher RSI readings, approaching overbought territory, would underpin the steady increase in buying pressure backing retail demand for XRP.
Still, traders should be cautious and watch out for sustained pullbacks below the 50-day EMA support at $2.918.
$BTC
$ETH
$XRP
BOOST short term road map 1 hour time frame clear levels and a practical plan
Quick summary
Price is trading near 0.1005 after a decisive bounce off the 0.09 zone. Market structure shows a recent lower high to lower low leg that broke, then a retest and a recovery leg. The bias is cautiously bullish while price stays above the blue support zone near 0.09 and the mid band around 0.0994. Key resistance sits around 0.11. Trade decisions should be made with tight risk control and small size on the 1 hour time frame.
What the chart is showing now
A clear contracting move formed into a point labeled D before a sharp pullback into the blue accumulation box labeled C. That move produced a strong wick and swift rejection at the lower support. Since then buyers have reasserted control with consecutive green candles driving price back to the 0.100 area. The market shows a break of structure down and then a break back up into a possible change of character. The immediate structure is range bound between support 0.09 and resistance 0.11. The mid band near 0.0994 is acting as a local pivot.
Patterns and price action read
The sequence looks like an ABCD rhythm where D acted as supply and C acted as demand. The contracting channel that contained the prior swing suggests distribution at higher levels. The bounce from C shows demand and liquidity was swept close to the blue support box. Candlestick behavior at the support included long lower wicks and follow through on the upside, which signals buyers stepping in. If the price retests the mid band and holds, that increases the odds of a push toward 0.11. Rejection at 0.11 with fresh bearish candles would qualify as a failed break and favor a deeper pullback toward 0.09 or the stronger shelf at 0.072.
Technical levels to watch
Support levels to respect
0.099 area mid pivot
0.090 to 0.092 demand box first serious support
0.072 major structural support and long term accumulation
Resistance levels
0.1008 local micro resistance shown on the chart
0.110 primary resistance zone to clear for bullish continuation
0.120 psychological extension target if 0.11 is taken
What is next short term
Bullish scenario
If price holds above 0.099 and reclaims the upper half of the range, accumulation will likely push price toward 0.11. A clean break and close above 0.11 on the 1 hour will open a run to 0.12 and higher volume based targets. Look for higher highs and higher lows to confirm a trend change.
Bearish scenario
Failure to hold the mid pivot near 0.099 followed by bearish engulfing candles opens a quick move back to 0.09. Loss of 0.09 with follow through increases the risk of a slide to 0.072. The contracting pattern that preceded the last swing suggests sellers still have an edge at higher levels until clear structural break occurs.
Tactical entry and risk ideas on 1 hour time frame
Aggressive entry
Buy small on the current bounce above 0.099 with stop under 0.092. Target partial at 0.11 and scale out toward 0.12.
Confirmation entry
Wait for a confirmed 1 hour close above 0.11. Enter 50 percent of planned size on breakout with stop under 0.10 and add on momentum toward 0.12.
Short idea
If price rejects 0.11 with a clean reversal candle and volume, consider short with target 0.09 and stop above 0.112.
Allocation guidance and risk
Keep short term position sizing small. Suggested allocation for a 1 hour swing is 1 to 3 percent of total capital per trade. For a tactical swing spanning several days a cautious allocation of 3 to 5 percent is reasonable. Always size so that a stop loss equates to a manageable absolute loss.
Fundamental note
Fundamentals remain a secondary filter here. Watch for ecosystem updates and on chain activity that would increase token utility and volume. Positive on chain flows and growing usage would support a bullish long term outlook while low activity and concentrated selling would keep pressure on the price.
Long term view
If price secures the 0.09 to 0.072 shelf as accumulation and macro crypto conditions improve, the long term trend can turn bullish and absorb higher targets beyond 0.12. If the 0.09 zone fails with sustained selling, expect a deeper base building period before any durable recovery.
Final take
The immediate market map is balanced but leaning bullish so long as 0.099 holds. Respect the 0.09 support. Trade with size discipline and let price confirm a breakout above 0.11 before committing larger capital.
$BOOST
XRP price breakout looms following US CPI report
Ripple (XRP) edges closer to a breakout, trading around the critical $3.00 level on Thursday. The release of the United States (US) Consumer Price Index (CPI) data has triggered a spike in volatility in the broader cryptocurrency market, as investors focus on the Federal Reserve’s (Fed) interest rate decision anticipated next week.
US inflation increases as focus remains on the Fed
US consumer prices increased 0.4% MoM in August after rising 0.2% in July, according to the Bureau of Labor Statistics (BLS) report. On an annual basis, the CPI increased 2.9%, up from 2.7% posted in July. This was the highest reading since January, underscoring the impact of US President Donald Trump’s higher tariffs.
The Core CPI, which accounts for all consumer items excluding the volatile food and energy prices, rose 0.3% in August, matching the increase in July. On an annual basis, the Core CPI rose 3.1%.
US CPI data
Fed officials pay close attention to the Core CPI to better gauge long-term trends. All eyes are now on the Federal Open Market Committee (FOMC), which is expected to release its decision on interest rates next Wednesday.
Following the CPI report, expectations of a September 0.25 percentage point interest rate cut to the range of 4.00% to 4.25% dipped slightly from around 91% on Wednesday to 88.7% at the time of writing on Thursday, according to the CME Group’s FedWatch tool.
Meanwhile, retail interest in $XRP remains relatively high compared to last week. CoinGlass data shows the XRP futures Open Interest (OI) averaging $8.15 billion on Thursday, up from $7.37 billion on Sunday.
The rising OI trend suggests that investors have a strong conviction in XRP’s ability to sustain its recovery to the record high of $3.66 reached on July 18.
Technical outlook: XRP$ upholds bullish case ahead of breakout
XRP holds around the $3.00 pivotal level as traders quickly scope up short-term dips toward the 50-day Exponential Moving Average (EMA) at $2.91. Still, upside movement lacks the catalyst to extend the up leg toward the next hurdle at $3.35, which was previously tested in mid-August.
Despite the lack of a strong tailwind to drive XRP’s next recovery phase, its bullish case remains intact, buoyed by a buy signal maintained by the Moving Average Convergence Divergence (MACD) indicator since Monday.
Traders tend to increase their exposure with the MACD line in blue holding above the red signal line. The steady upward movement in the Relative Strength Index (RSI) at 54 indicates bullish momentum as selling pressure declines.
XRP/USDT daily chart
Higher RSI readings, approaching overbought territory, would underpin the steady increase in buying pressure backing retail demand for XRP. Still, traders should be cautious and watch out for sustained pullbacks below the 50-day EMA support at $2.91.