The post Bitcoin (BTC) Price: Double-Bottom Pattern Hints at Potential $127,000 Target appeared on BitcoinEthereumNews.com.

TLDR Bitcoin has formed a double-bottom pattern with price target potentially reaching $127,000 BTC price rose from $108,650 to nearly $114,000 in two consecutive days U.S. government shutdown risks and upcoming NFP data may benefit Bitcoin price Institutional accumulation continues with Strategy Inc. adding 196 BTC worth $22.1 million Technical indicators show Bitcoin breaking above 50-day and 100-day EMAs with positive RSI and MACD Bitcoin (BTC) has shown strong signs of recovery in recent days, climbing from a low of $108,650 to nearly $114,000 in just 48 hours. This price movement has created a notable double-bottom pattern on the daily chart, suggesting a potential upward trajectory for the world’s largest cryptocurrency. The double-bottom formation consists of two low swings with a neckline at $117,875. Technical analysis indicates that if Bitcoin breaks above this neckline, the price could target approximately $127,000. This would exceed the year-to-date high of $124,200. Bitcoin Price on CoinGecko Supporting this bullish outlook, Bitcoin has already moved above both the 50-day and 100-day Exponential Moving Averages (EMAs). The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are also pointing upward, reinforcing the positive momentum. Trading volume has been robust, with daily volume reaching $62.2 billion as Bitcoin surged 3.62% in 24 hours. However, the RSI has spiked to 83, indicating overbought conditions that could lead to a brief consolidation phase. Political and Economic Catalysts The potential U.S. government shutdown looms as Democrats and Republicans remain at odds over spending bills. Republicans are advocating for a clean spending bill, while Democrats aim to implement policies on health and Medicaid. A government shutdown could benefit Bitcoin as it would likely impact the economy, with the government being one of the top spenders in the United States. This scenario might increase the probability of the Federal Reserve…

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Filed under: News - @ September 30, 2025 10:28 am