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Bitcoin price forecast: BTC eyes $120k despite slight resistance

Key takeaways

  • BTC is down by less than 1% in the last 24 hours and trading around $117k.
  • The coin could target the $120k psychological level next, following a recent bullish momentum

Fed rate cut pushes BTC above $117k as bullish trend resumes

The cryptocurrency market performed excellently this week, with Bitcoin bouncing back from its Monday low of $114k to trade above $117k. The positive performance was due to macroeconomic factors, especially the Fed rate cut on Wednesday.

The rate cut allowed Bitcoin to hit the $117k level, with bulls now targeting another high around $120k in the near term. Analysts believe that the rate cut will push liquidity into the crypto market.

In an email with Coinjournal, Sergei Gorev, Head of Risk at YouHodler, stated that the Fed’s rate cut is quite an important factor for the market. 

“This is a positive development for the financial and crypto markets. Cheaper money pushes the quotes higher and higher. As long as liquidity prevails in the markets, the cryptocurrency market will feel quite confident. We will soon see new historical quotes for BTC, which will also support other coins. In addition, the approval of all new altcoin ETFs will also boost inflows into some cryptocurrencies soon.”

Bitcoin bulls target $120,000

The BTC/USD 4-hour chart is bullish and efficient after Bitcoin’s price surged past its 50-day Exponential Moving Average (EMA) on September 10. It found support around the $116k level earlier this week before rallying past the $117k on Wednesday. 

BTC has been consolidating around $117k over the past 24 hours, but could be set to rally higher in the near term. The RSI of 57 shows that the bulls are still in control, with the Moving Average Convergence (MACD) indicator on the same chart displaying a bullish crossover since September 6th. 

BTC/USD 4H Chart

If the bullish trend continues, BTC could extend its current rally towards the psychological level of $120,000. An extended bullish run would allow it to hit the $125k mark and set a new all-time high in the process. 

However, if the market corrects and closes below the $116k support level, BTC could face selling pressure and extend its decline towards the next major support and TLQ zone at $113,924.

The post Bitcoin price forecast: BTC eyes $120k despite slight resistance appeared first on CoinJournal.

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Markets brace for September’s endgame as Bitcoin leads post-Fed crypto Rally

  • Bitcoin reclaims $117K as the Fed’s long-awaited rate cut revives trader optimism and risk appetite.
  • Ethereum, Solana, XRP, and Dogecoin post strong price action, fueling hopes of further breakouts.
  • September’s $4.5B token unlocks cast volatility across altcoins, shifting capital flows in the sector.

The crypto market put on an energetic display this Friday, shaking off recent bouts of uncertainty with a strong overnight rally powered by fresh optimism.

Major tokens, led by Bitcoin surged after the US Federal Reserve delivered a long-awaited rate cut, sparking renewed risk appetite among traders.

The mood was lively as Bitcoin reclaimed key levels and Ethereum, Solana, XRP, and Dogecoin each posted dynamic price swings.

This rebound arrives amid swirling sentiment, as traders balance bullish momentum against lingering macroeconomic headwinds.

Blue-chip movers: BTC, ETH, SOL, XRP, DOGE

At the top of the board, Bitcoin (BTC) hovered above $117,000 in Friday trading, enjoying a lift after the Fed’s quarter-point rate cut put risk assets back in focus.

Bitcoin’s performance set the tone, showing about a 1% daily gain and signaling renewed comfort for bulls who had watched levels slip to near $115,000 earlier in the week.

Ethereum followed suit, trading at roughly $4,600 and holding above psychological support as technical analysts flagged signs of short-term resistance, but mostly positive undercurrents.

Solana (SOL) charged ahead to around $247, buoyed by talk of a potential breakout if its historic $250 resistance falls as traders are watching that level closely for momentum.

Meanwhile, XRP remained pressed just above $3.10; analysts noted a robust daily RSI and possible breakout if it clears this threshold, eyeing targets above $3.20 if upside volume persists.

Dogecoin (DOGE) slipped slightly, last seen around $0.28 after an initial morning pop; the meme coin is consolidating with active speculation about another upswing if key technical support holds.

Altogether, the major cryptos painted an optimistic but cautious technical picture as the day unfolded.

Markets brace for September’s endgame

Beyond the price action, several big stories have traders sitting up straight.

The Fed’s long-discussed interest rate cut was far and away the top catalyst, delivering a tailwind to the entire risk-asset space and providing a confidence boost at a time when global markets are searching for stability.

Industry insiders also watched closely as September’s scheduled token unlocks, totalling over $4.5B began to cast their shadow mid-month, stoking some sector-specific volatility and shifting flows among altcoins.

Regulatory winds were swirling as the SEC and CFTC neared new clarity on digital assets, sparking hope among institutions for more definitive rules of the road, adding another undercurrent of optimism for long-term industry maturation.

This blend of macro and sector developments means the stage is set for potentially explosive moves as Q4 approaches.

The upshot for traders and industry-watchers is clear: September’s endgame is shaping up as a moment of high drama.

With macro drivers, critical token dynamics, and regulatory headlines all hitting at once, the coming days could offer firm direction, whether that brings further upside or a new round of volatility remains the question hanging in the air.

The post Markets brace for September’s endgame as Bitcoin leads post-Fed crypto Rally appeared first on CoinJournal.