Analyst names condition for continuation of Bitcoin rally

Closing the week above $114,000 would be a “big step” for the top cryptocurrency, keeping the positive sentiment alive, said trader Sam Price.

Bitcoin bulls are defending $109K support nicely. A weekly close above $114K would be big, but we'll see by Sunday.

Also, huge wick like that shows solid buy pressure. Likely some sideways flagging and we continue to maintain. Watching the 1H for a possible push up. pic.twitter.com/BheUtkpksJ

— Sam Price (@CryptoLifer33) August 28, 2025

“Bitcoin bulls are confidently defending support at $109,000,” he wrote.

According to Price, long green candles indicate strong buying pressure. However, the expert did not rule out a temporary sideways movement in digital gold.

Crypto analyst Rekt Capital stressed that it is important for Bitcoin to regain $114,000 as support to avoid a protracted period of correction.

#BTC

Bitcoin is finding support at $109k after the minimum Measured Move has taken place

Really important BTC reclaims $114k (black) as support in the future

Because otherwise, a rebound here could end up as a post-breakdown relief rally if $114k turns to resistance

And… https://t.co/PR2n98JHdF pic.twitter.com/EBAwa5o6MB

— Rekt Capital (@rektcapital) August 27, 2025

“This period has been a cycle of downside rejections, so it all boils down to the fact that a weekly close of BTC above $114,000 would be bullish,” he stressed.

MN Capital founder Michael van de Poppe also named similar key values. According to his observations, support at $112,000 is “crucial.” If it fails, the market should expect a decline.

It remains crucial.

If #Bitcoin can't hold above $112K, we'll probably face a very ugly correction across the board.

Probably the final one and then we're up only for the coming period. pic.twitter.com/wXtfZwOAxH

— Michael van de Poppe (@CryptoMichNL) August 28, 2025

The analyst presented his forecast on Thursday, August 28. The next day, Bitcoin dropped to $110,000.

Binance BTC/USDT Hourly Chart. Source: TradingView.

At the time of writing, the first cryptocurrency is trading around $110,500. Today, the asset rose sharply to $111,500, but rolled back just as quickly.

Let us recall that two bullish “megaphone” patterns have formed on the daily chart of the first cryptocurrency, which could signal growth to $260,000.