Bitcoin (BTC) Rug Pull Fears Grow: $ 116k or $ 105k – What will come first?

Bitcoin climbed above $ 114k this week after climbing by almost 4% during the period. But the battle may not be over yet.

Joao Wedson, for example, warned that the recent increase in Bitcoin might not be as safe as it seems.

In his last tweet, Alfractal founder and crypto analyst Joao Wedson undercommon Whether Bitcoin could make a potential ‘carpet’ lining. He said that despite the crypto -active that climbs above $ 114k, a decisive shift in sentiment would only come if the price breaks the resistance of $ 116k.

On the other hand, Wedson observed $ 110.4k as important support and warned that an infringement under $ 110k BTC could send to the $ 105k liquidity zone. Although the level of $ 107k may have served as a local soil, he added that there is a need for confirmation of wider market signals.

In particular, Wedson is waiting for Bitcoin’s dominance to show a new top in addition to improvements in purchase/sales pressure Delta, the Sharpe ratio, rising open interest and trends in chains. Without these signals, he believes that the best approach is patience.

The recent TFT AI prediction too painted An equally careful prospect for Bitcoin in the next 30 days. Although the model projects a predominantly neutral trend within the range of $ 108,000 $ 120,000, it emphasized the growing uncertainty, in particular by the end of September. In the short term, it is expected that Bitcoin will fall slightly, with a prediction of 7 days that shows a decrease to $ 109,451 and a projection from 30 days to $ 108,771.

However, the most important collection meals is not the modest downward bias, but the sharp widening of reliability intervals as uncertainty that is above 50% at the beginning of October, which points to the possibility of intense volatility.

Another red flag

Moreover, almost 88% of the circulating bitcoin is currently profitable. This level has earlier witness Overloaded conditions. In earlier cycles, similar profit margins led to corrections when traders secured income.

Although it is not certain, the pattern calls out the concern that Bitcoin can be confronted with turbulence despite a broader bullish momentum.