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Bitcoin Eyes $ 120,000 in the middle of a new American-Chinese pricing break


Key points:

  • Bitcoin features a late return to the weekly fence while the price is approaching important liquidation zones.

  • Traders and analysts focus on various key prices to recover then.

  • Volatility is expected on the basis of large volume business behavior, reports the analysis.

Bitcoin (BTC) exceeded the most than $ 119,000 on Sunday while the bulls extended a two -week stocking bounce.

BTC / USD 1 hour. Source: Cointelegraph / TradingView

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Bitcoin prices volatility returns to weekly closure

Data from Cointelegraph Markets Pro And Tradingview showed that BTC / USD approached a key recovery area.

Now trying a daily closure above its 10-day simple mobile average, the pair maintained a rebound of almost $ 114,500 while the market forgot one of the largest sales of BTC.

The increase came in the middle of the news that the United States and China had agreed to further delay the introduction of reciprocal trade rates.

Market players therefore focused on key levels to search for the new week.

“$ BTC must exceed $ 119.5,000 for a major decision. If this does not happen, this consolidation will continue,” said the pillows of cryptography and the entrepreneur summary In a post on X.

“I think BTC could break above this level next month, which will start the next step.”

Table BTC / USDT 4 hours with RSI data. Source: Ted / X pillows

The trader and popular analyst Rekt Capital has watched a slightly higher ceiling of range just below the $ 120,000 mark.

“Bitcoin has closed daily above the low blue range, rejecting a break from the very briefly lost range”, it said X subscribers alongside a printing of the daily BTC / USD graphic.

“Any cash register in the low range (in confluence with the new lower lower) would be an attempt at Retest to confirm recovery.”

BTC / USD 1 day. Source: Rekt Capital / X

Others have warned that the price could still fill the daily wick left by the trip to $ 114,500.

In a thread X on the subject, his CRYPUNUVEVO compatriot identified a target downwards in confluence with a liquidity zone of the exchange order book.

“If we are a rear zoom, we can see that the main level of liquidation is $ 113.8,000,” he said.

“Consequently, I consider that the downward liquidation cluster as the natural target halfway ($ 114.5,000 at $ 113.6,000).”

The analyst sees the “larger price swings”

The latest resource monitoring data Rinsing Meanwhile, puts “maximum pain” for BTC shorts at around $ 119,650.

In relation: The XRP portfolio linked to Chris Larsen has another $ 9 billion for sale, the analyst warns

If Bitcoin returns to challenge the heights of all time almost $ 123,000, short liquidations would total more than $ 1.1 billion.

Bitcoin exchange liquidation card (screenshot). Source: Coringlass

“Strong resistance forming around 119,000 to 120,000, indicated by dense liquidation clusters”, Crypto Analysis Platform Coinank Platform agreed While examining its own liquidity data.

Thekingfisher analyst in addition warned increased volatility on short deadlines.

“See mainly red on the BTC Gex +graph.

“Expect potentially larger short-term price fluctuations. Watch these changes closely. “

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.