Ostium Labs Warns Bitcoin Price May Crack Below $98K Weekly Support
Ostium Labs’s September Market Outlook highlights critical Bitcoin price thresholds to watch. The firm states that holding above $98,000 on the weekly chart maintains a bullish structure, expecting a higher-low formation. Conversely, a weekly close below $98K would signal a bearish weekly structure. As of early September, BTC trades near $108,000 after August’s monthly candle closed red.
Key levels include support at the July lows around $105,000 and resistance at the August open near $115,000. A weekly retest above $112,000 could drive upside toward $117,500 before month-end, while failure to reclaim $112K may target the June open at $104,500 and the 200-day MA near $101,300.
Ostium also flags macro events—ISM reports, Fed Beige Book, and Nonfarm Payrolls—that could influence volatility. Liquidation heatmaps show heavy long positions clustered around $114K–$120K and demand bands near $105K–$101K. Traders may look for bullish divergence at support to enter long, or fade squeezes into $112K before major data releases for short setups.
Overall, the Bitcoin price outlook remains balanced, with $98,000 as the decisive bearish trigger and $112,000 as the bullish pivot for trend continuation.
Neutral
Ostium Labs’s report presents balanced technical setups. A weekly close below $98,000 would break the bullish structure, echoing past corrections when Bitcoin failed key supports (e.g., the late-2023 drop under $60,000). Conversely, reclaiming $112,000 would mirror earlier bull resurgences after retaking $50,000 in mid-2023. In the short term, traders are likely to range trade between $105,000 and $112,000 ahead of major macro data. Over the long term, a monthly close above $115,000 would reinforce bull momentum toward new highs, while loss of $98,000 could deepen a pullback toward $101,000. Until one of these thresholds is decisively broken, the outlook remains neutral.