Bitcoin Eyes $116K as Bulls Defend Key Support
Bitcoin (BTC) is currently navigating a sideways correction within its broader bullish trend, with key support at $98,900 and an extended upside target of $138,805. Analysts predict a potential surge toward $116,000 if momentum continues, as indicated by Budhil Vyas on October 2, 2025.
BTC is trading above the 100-day EMA of $108,000, signaling mid-term support, but remains below the 50-day EMA at $115,000, highlighting short-term bearish pressure. Traders are closely watching resistance levels at $114,880, $115,480, and $116,116. A failure to hold $111,180 could shift momentum to the downside, exposing BTC to deeper corrections, while a breakout above $116K would likely attract renewed institutional interest. Stochastic RSI readings are in the neutral zone but approaching oversold conditions, indicating potential rebound. The bullish bias for BTC remains intact as long as it trades above $111,180.
Bitcoin's consolidation phase may precede a decisive move, with ongoing support around $111,180 crucial for confirming upside momentum. Analysts suggest this phase could set the stage for a surge toward $116,000 if momentum continues, as predicted by Budhil Vyas.
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