Bitcoin’s $119K Wall: Will It Be the Next Big Leap or a Joke? 🚀💥

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Bitcoin, that sly fox in a digital hedge, is nuzzling up to a long-term resistance level that’s been known to throw parties in the past. At around $112,100, it’s currently playing hide-and-seek with its own history, having slipped 8% this week like a disgruntled squirrel losing acorns. 🐿️

While the short-term vibe is as flaky as a poorly baked scone, some technical wizards are whispering that the market might be plotting a sneaky comeback. After all, who doesn’t love a good surprise? 🧙‍♂️

Log Curve and RSI Near Crucial Levels

Bitcoin’s price is inching closer to the top of its long-term logarithmic curve, a ceiling that’s been known to host more drama than a royal family reunion. According to EtherNasyonaL, BTC “hasn’t even broken above the logarithmic curve resistance yet,” which is about as exciting as watching a tortoise race a snail. 🐢

Bitcoin Top Not Is In. $BTC hasn’t even broken above the logarithmic curve resistance yet, so there’s no doubt the parabolic run will continue.

As in previous cycles, the market gained momentum quickly when this curve was broken.

Moreover, the RSI isn’t even in the…

– EᴛʜᴇʀNᴀꜱʏᴏɴᴀL (@EtherNasyonaL) October 14, 2025

Meanwhile, the RSI is flirting with 72, but it’s still playing by the rules. Back in 2017, it broke the trendline like a rebellious teenager, and the price skyrocketed. Now it’s all “maybe later,” which is about as reliable as a weather forecast in a thunderstorm. ☁️⚡

On the 4-hour chart, Trader Tardigrade spotted a double bottom pattern. The second low is higher than the first, which is like a cat finally learning to jump over a couch. The neckline is at $116,000, and a breakout would be as thrilling as a surprise party. But until then, it’s just a fancy doodle. 🎉

Pricing Bands Mark $119K as Key Level

The MVRV pricing model from Glassnode has Bitcoin just below the +0.5 standard deviation band, a magical realm at $119,000. Analyst Ali Martinez warns, “Bitcoin $BTC must reclaim $119,000 to keep bullish momentum alive! Otherwise, the Pricing Bands signal a correction toward $96,530.” Which is basically saying, “Don’t trip over your own feet, or the floor will eat you.” 🧠💸

If it fails, the price might dive to $96,526, the model’s mean. It’s like a game of musical chairs where everyone’s terrified of sitting down. 🪑

On-Chain Data Shows Shift in Market Behavior

XWIN Research Japan claims Bitcoin is now in a later stage of the cycle, with the NUPL at +0.52. This is the point where optimism turns into a speculative binge, and 97% of the supply is in profit. It’s like a party where everyone’s already drunk and the host is secretly plotting to sell the house. 🎉

Short-term holders now own 44% of Bitcoin’s realized capitalization, the highest ever. It’s as if every squirrel in the forest has decided to trade acorns for gold. According to XWIN, “This time the structure appears different,” which is code for “we’re all just hoping for the best.” 🧠

Until the price breaks resistance, the breakout remains as likely as a penguin learning to fly. A move above $119,000 and a RSI breakthrough could signal the trend is still alive. Or it could be a trick, like a magician’s rabbit that’s actually a very confused hedgehog. 🐇🎩

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2025-10-15 11:25