Highlights:
BTC bulls may face the end of the bull market if the $100,000 support is breached, according to a new analysis.
Bitcoin price movement is caught in a struggle between bullish and bearish RSI signals.
Some traders view a potential buying opportunity just above the $100,000 threshold.
According to a new warning, Bitcoin (BTC) will conclude its bull market if it fails to maintain the $100,000 support level.
In his latest insights shared on X, trader Roman forecasts that if Bitcoin’s six-figure prices disappear, so will the bull cycle.
Bitcoin’s Bull Market “Officially” Relies on $100,000
Bitcoin has shifted market sentiment once more with a recent drop, which saw BTC/USD fall by 15% from its all-time highs above $125,000.
Price targets for BTC have been adjusted accordingly, with Roman among those anticipating a retest of levels approaching or below $100,000.
However, if bulls cannot maintain this critical psychological zone, the outlook will worsen significantly.
“It definitely appears grim as we’ve lost our uptrend and 112k support,” he noted alongside the daily BTC/USDT chart.
“98-100k is the critical level to monitor. Losing that will *officially* signal the end of the bull run.”
Roman remarked that on higher timeframes, Bitcoin is “still exhibiting significant exhaustion,” referencing his previous observations from August and before.
These noted issues include low trading volume at peaks and a bearish divergence on the relative strength index (RSI).
As reported by Cointelegraph this week, shorter timeframes are showing signs of a new bullish divergence on the RSI — often a precursor to a returning uptrend.
Data from Cointelegraph Markets Pro and TradingView confirmed that the bullish divergence was still active as of Sunday.
Hope for Traders Amidst RSI Bullish Divergences
Some market participants remained optimistic about a broader recovery in the crypto market based on current trends.
Related: Is a Bitcoin price drop imminent in September?
“If this level holds, a new all-time high in the next 4–6 weeks is possible,” fellow trader ZYN informed his X followers in a post highlighting a weekly RSI bullish divergence.
“That’s not just hope. That’s the structure.”
Others considered the vicinity around $100,000 as a prime entry point rather than a signal to reduce exposure.
“It’s evident that, in the short term, Bitcoin is not in an uptrend,” crypto trader, analyst, and entrepreneur Michaël van de Poppe acknowledged.
“I’m focusing on the area around $102-104K for support. I still believe this is the best time to accumulate positions.”
As of the latest update, BTC/USD had declined roughly 6.5% for August — still performing better than the last four years, according to data from CoinGlass.
This article does not offer investment advice or recommendations. All investments and trading decisions carry risks, and readers are encouraged to conduct their own research before deciding.
