Bitcoin Analysis: Are Buyers Back in Control?

The latest trading sessions have been particularly relevant when looking at the strength of demand surrounding Bitcoin. This can be seen in recent price action, as BTC has gained more than 13% over the last five trading sessions, bringing a meaningful bullish bias back into focus in the short term. Buying pressure has managed to remain supported as the possibility of additional regulatory advances has helped restore confidence across the market. This has been accompanied by a steady increase in activity and capital inflows, a dynamic that continues to support demand for now. If this environment of improving confidence and stronger participation remains in place, buying pressure could continue to be relevant during the coming sessions.

Is Demand Beginning to Grow More Consistently?

One of the events that helped reactivate demand around BTC took place toward the end of last week with the approval of the Innovation Exemption in the United States. This measure provides regulatory relief for the trading of tokenized equities through blockchain technology and has revived positive expectations surrounding the cryptocurrency ecosystem and its integration with traditional financial markets.

The development helped boost demand activity once again and can be observed in the behavior of Bitcoin ETF flows. On September 18, net inflows exceeded $400 million, a move that coincided with announcements related to the new regulatory environment in the United States.

Source: Theblock

However, one of the most important aspects is that this rebound in demand may have begun to alter the market's short-term structure. As capital inflows increased and BTC managed to clear important price levels, forced liquidations of short positions also started to emerge. This phenomenon typically occurs when prices advance rapidly and consistently, forcing bearish positions to close and further fueling the upside move.

This can be observed in the liquidation data from September 21, when short positions reached one of their highest levels in recent sessions. This suggests that the large-scale liquidation of bearish positions also contributed to accelerating Bitcoin's recent recovery and reinforced the buying pressure seen in the short term.

Source: CryptoQuant

With this in mind, improving regulatory expectations appear to have acted as an important catalyst for the market in recent sessions. Not only have they supported a more consistent recovery in demand, but they have also contributed to the removal of bearish positions that had been limiting Bitcoin's advance. As long as this positive sentiment remains in place and short liquidations continue to occur, buying pressure could remain an important feature of Bitcoin's price action.

That said, it is also important to remember that concerns surrounding a potentially more aggressive Federal Reserve remain relevant for the months ahead. This continues to be a factor that could eventually limit risk appetite over the longer term. If this concern regains importance across financial markets, BTC's current strength could begin to face stronger headwinds and potentially give way to a period of greater indecision during the weeks ahead.

Bitcoin Technical Forecast

Source: StoneX, Tradingview

• The trendline continues to gain relevance: Since early July, Bitcoin's price action has managed to maintain an increasingly consistent bullish structure. This has gradually allowed a well-defined uptrend line to develop, which is now emerging as one of the most important technical patterns on the chart. The recent formation of new highs continues to reinforce the credibility of this structure. If buying pressure remains in place over the coming weeks, the broader uptrend may continue to dominate market behavior.
   
• MACD: The MACD histogram remains above the 0 neutral line, indicating that short-term moving average momentum continues to support a meaningful bullish bias. As long as this behavior persists, buying pressure may continue to play a relevant role in the market.
   
• RSI: The RSI continues to deliver a similar reading, remaining above the 50 neutral level and confirming the importance of the recent bullish bias. However, the indicator is also showing overbought conditions alongside a bearish divergence, reflected by higher highs in BTC and lower highs in the RSI. This suggests that the pace of the recent rally has been particularly strong and could leave room for short-term corrective pullbacks.
   

Key Levels:

• $93,000 – Key Resistance: A major high first seen in December 2025 that remains the most important upside barrier on the chart. This area is also located above the significant $90,000 psychological level. Price action that continues to approach this zone could further reinforce the dominant bullish bias and potentially accelerate the ongoing uptrend in the weeks ahead.
   

• $82,000 – Near-Term Barrier: A level that coincides with the nearest retracement area on the chart and remains the primary reference to monitor in the event of short-term bearish corrections.
   

• $73,000 – Major Support: An important support zone that coincides with the 50-period moving average and one of the most relevant downside references on the chart. Price action returning toward this level could begin to threaten the current uptrend and restore a more directionless market environment, potentially favoring the development of a broader trading range in the weeks ahead.
   

Written by Julian Pineda, CFA, CMT – Market Analyst

Follow him on: @julianpineda25