Bitcoin News: Bitcoin Price Cycles Getting Longer, Analysts See $124K as ‘Not the Top’

Key TakeawaysBitcoin (BTC) climbed back above $114,000, breaking resistance near $113,000.Analysts argue the bull market is not yet over, with cycles historically getting longer, not shorter.Order book liquidity shows potential for a short squeeze as sellers cluster above current price.Key near-term resistance: $114,700 (50-day SMA) and the psychological $115K level.BTC Price Action: Resistance WeakeningBitcoin price reached $113,865 on Sept. 10, recovering from a multi-week downtrend. The rally, aided by U.S. macro tailwinds, pushed BTC back above the $114,000 level, sparking optimism among traders.Crypto analyst Rekt Capital highlighted that Bitcoin’s repeated tests of the $113,000 zone have shown progressively weaker rejections.“It has taken some time but it is increasingly looking like $113k is weakening as a point of rejection,” he told followers on X.This move follows Bitcoin’s breakout on Sept. 2, when BTC closed daily candles above its local downtrend after briefly falling below $108,000.Why $124K Is Unlikely to Be the PeakDespite speculation that Bitcoin could be nearing a cycle top, analysts remain confident that the rally has more room.Rekt Capital explained that if Bitcoin were to peak at $124,000, this cycle would be “one of the shortest of all time.” Instead, historical patterns suggest that cycles are gradually lengthening, meaning higher levels remain possible.Liquidity Maps Show PredictabilityMarket data reinforces the bullish setup:Analyst TheKingfisher noted that most liquidity lies just above spot prices, raising the likelihood of a short squeeze.A major liquidity cluster sits around $112,631, which could fuel rapid upside if shorts are flushed.Material Indicators co-founder Keith Alan pointed to the 50-day SMA at $114,700 as the next hurdle.“Expecting resistance around the 50-Day SMA, which is close to the psychological $115k level,” Alan confirmed.Material Indicators added that Bitcoin’s rebound was consistent with dynamic liquidity placements and whale order flow, giving the move “a degree of predictability.”Market OutlookBitcoin’s return above $114,000 is reviving bullish sentiment, with analysts calling for further upside toward $120K+. As liquidity shifts and resistance weakens, the probability of new all-time highs above $124K is gaining traction.Short-term, traders are eyeing $114,700–$115,000 as the critical resistance zone. A breakout above could pave the way for continued price discovery in this bull cycle, according to Cointelegraph.