Bitcoin bulls brace for $107K sweep before liftoff
Amid a generally negative sentiment across the cryptocurrency market, Bitcoin (BTC) is once again testing the patience of traders as it slips below support zones, sparking speculation of one final sweep down to $107K before the next leg higher.
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Indeed, a detailed chart analysis that prominent crypto trading expert Michaël van de Poppe shared in an X post on September 26 shows BTC has rejected at the mid-range resistance near $116,000, sliding back through the liquidity zone around $111,000.
With momentum fading, the analyst suggests a dip toward the $107,000 support cluster could serve as a final spring before bulls reassert control.
The setup
As it happens, the area around $107,000 has acted as a key liquidity pocket in recent months. If BTC revisits it, buyers may step in aggressively, turning the correction into a launchpad for another rally attempt.
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Above, bulls still face resistance at $116,000 and $119,500. Clearing those would open the part toward a region near $123,000, with potential for price discovery beyond.
Earlier, fellow crypto analyst Ali Martinez was a bit more positive, suggesting that Bitcoin’s recent dip meant that BTC has completed a critical liquidity sweep and was now looking at a major rally toward $130,000. However, it seems his optimism at the time was a bit premature.
For the time being, the flagship decentralized finance (DeFi) asset is trading at $108,914.84, suggesting a drop of 2.57% in the last 24 hours, a 6.56% decline across the previous seven days, and an accumulated dip of 1.9% on its monthly chart, according to the most recent price data.
If history repeats, Bitcoin could bottom at $107K and pivot sharply upward, kicking off the next rally phase. But if the level breaks, traders may need to brace for a deeper retracement before the bull case resumes.
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