Analysts Split Over Bitcoin Near $108K: Megaphone Could Target $150K or Short-Term Risk to $103K

• BTC holds near $108K with a long-term megaphone suggesting continued macro bullish consolidation.

• Short-term momentum indicators and declining MACD readings point to possible pullbacks toward $103K–$100K.

• Daily volumes peaked above $9.2 billion during rallies, confirming market participation and supporting higher targets if momentum returns.

Bitcoin price outlook: BTC near $108K; megaphone pattern keeps $150K target possible while short-term risks point to $103K — watch volume and $100K support.

Bitcoin trades near $108K as analysts split views with one eyeing $150K targets while another warns of dips toward $103K.

• Bitcoin holds steady near $108K as analysts split between a long-term bullish pattern and short-term downside risks.
• A megaphone pattern shows Bitcoin could still aim for $150K while short-term signals warn of possible dips near $103K.
• Trading volumes show strong rallies and corrections, proving Bitcoin’s cycle is alive with both bullish and bearish signals.

Bitcoin kicked off September trading under pressure, hovering around $108,000. Over 24 hours the cryptocurrency oscillated between $107,200 and $109,200, revealing limited momentum at key resistance. The narrow trading range has created a tense short-term outlook for market participants.

Analysts noted the struggle to break higher levels is delaying bullish follow-through. Short-term technicals show fading momentum, while longer-term structure still points to an overall bullish consolidation.

The Wyckoff Architect described an expanding megaphone spanning 2023–2025 and argued the structure signals continued macro bullish consolidation rather than a full bear cycle. The megaphone reflects rising volatility and wide-ranging swings inside a larger uptrend.

Source: Wyckoff Architect

The megaphone structure includes a rally from late 2023 through mid-2024, where BTC exceeded $120,000 before correcting. A near-25% retracement brought price down to around $90,000, but price action remained inside the broad expanding channel. Volume patterns reinforced those cycles: strong volume on rallies and deeper corrections during sell-offs.

What is the Bitcoin price outlook?

Bitcoin price outlook remains cautiously bullish on the macro timeframe while short-term indicators show risk of a pullback. The expanding megaphone suggests continuation of wide swings and consolidation, making confirmation around $100,000 support and rising volume decisive for the next leg higher.

How does the megaphone pattern affect Bitcoin’s prospects?

The expanding megaphone signals increasing volatility and broader price ranges. It implies that Bitcoin can revisit both higher and lower extremes while maintaining an overall bullish bias. If price holds inside the channel and volume spikes on rallies, technical targets near $150,000 remain plausible.

Conversely, a decisive break below the lower megaphone boundary and major support near $100,000 would increase the probability of a deeper correction. Monitor volume clusters, resistance zones, and liquidity bands to gauge the next directional move.

Why are short-term signals mixed?

Short-term indicators including DIF, DEA, and MACD show declining momentum after an 86% rally from $66,810 to $124,545 in the prior cycle. That advance retraced about 13% to current levels, leaving momentum readings soft.

ZeusInCrypto’s assessment of BTCUSDT perpetual data highlighted that daily volume peaked above $9.2 billion during high-activity sessions. High volume confirms participation but also widens the range for potential reversals when momentum fades.

Source: ZeusInCrypto

When should traders watch support and resistance?

Watch the $100,000 support zone closely. A sustained hold above $100,000 with rising volume would favor continuation of the megaphone’s bullish scenario. Failure to hold $100,000 increases the risk of deeper correction toward prior structural supports near $90,000–$95,000.

On the upside, reclaiming and closing above the $120,000–$124,500 zone with strong volume would renew bullish momentum and keep targets near $150,000 on the table.

Frequently Asked Questions

How close is Bitcoin to breaking higher to $150,000?

Bitcoin must reclaim and close above the $120,000–$124,500 zone with strong volume to increase the odds of a move toward $150,000. Sustained buying pressure and supportive macro conditions would be required.

What would a drop to $103,000 signal?

A dip to $103,000 would indicate short-term weakness and test key liquidity clusters. If $100,000 fails as support, a deeper correction toward $90,000–$95,000 becomes more likely.

Key Takeaways

• Macro structure: The expanding megaphone suggests continued bullish consolidation with wide price swings.
• Short-term risk: Momentum indicators and recent retracements point to potential pullbacks near $103K–$100K.
• Action: Monitor $100,000 support, volume confirmation, and closes above $120K for directional conviction.

Conclusion

Bitcoin’s short-term outlook is mixed while the macro picture remains constructive inside an expanding megaphone. Traders should front-load decisions around key levels — $100,000 support and $120,000–$124,500 resistance — and use volume confirmation to validate moves. COINOTAG will monitor developments and provide updates as price action clarifies direction.