Can Bitcoin ( $BTC ) "Pump"?

Yes — there's strong potential for a bullish move, but with some caveats. Here’s a breakdown of the current technicals and macro factors:

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Market Snapshot & Analyst Outlook

Price Movement: #BTC recently surged beyond $116,000 following excitement around Powell’s cautious tone at Jackson Hole .

Key Resistance Levels:

Analysts say a clean break above $116,800–$118,000 could ignite a more explosive rally .

Consolidation Phase:

BTC is hovering around $114,000–$116,000, suggesting an ongoing consolidation after a recent rally .

Possible Targets:

Bernstein projects a rise to $200,000 within 6–12 months, albeit with some caution from skeptics .

Other forecasts see $135,000 still possible by late August, with even $150,000 by 2026 on the table .

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Technicals: Mixed Signals

Investing.com (Bitfinex):

Current sentiment skews Strong Sell across most short- and medium-term indicators .

RSI around 42, MACD negative — both lean bearish .

TipRanks:

Short-term: Mixed signals—MACD suggests Buy, but some moving averages say Sell .

Pivot Points:

Resistance: ~$114,206–$115,933

Support: ~$111,358–$113,085 .

MarketScreener:

Short-term trend: Bearish

Mid-term / Long-term: Bullish

Supports around $112,500, $105,700; Resistances near $117,300, $123,400 .

CryptoPotato / TradingView:

New ATH above $124K, but BTC is now retracing and facing resistance levels, particularly given recent Fed signals .

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Factor Insight

Resistance ~$116,800–$118,000 is a key gatekeeper for any sustained bullish move.

Support ~$112,000–$114,000 area remains critical for downside risk mitigation.

Sentiment Mixed: short-term bearish signs; medium-to-long-term trending bullish.

Targets Bullish forecasts range from $135K to $200K in mid-2026/27.

Risks Possible Fed hawkish tone, ETF outflows, and profit-taking could stall rally.