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Bitcoin Targets $120,000 With a New Short Squeeze in Sight


Key points:

  • Bitcoin Mova High Aug. August as the merchants see BTC shorts punished.

  • A restracion start could go well on a journey to $ 120,000, predictions say.

  • A CME GAP to $ 11600 is of interest as as possible next place.

Bitcoin (Btc) Lased $ 119,000 in the “Decisive” of Sunday “Sunday weeks as tradespricers expected a strong week.

BTC / USD 1-HOUR CHART. Source: Bladeltaph / Tradingoview

Bitcoin traders arms for the giant squeeze

Data from The parcelagra’s markets and it Dingering SHOW BTC / USD arrive at $ 118.760 in Bitstamp, marching high high.

“Fording Out-Ow-Headed Founds, with the total of 24 or Hour in $ 350 million, for data from monitoring Cumenting. I am

Heatmap btc liquidation. Source: Coinglass

Commenting the market structure, Crypto forecast favored even more progress in the new week.

“BTC is on the Cospr to claim ~ $ 117200 again in support”, Trader Trader and Analyst Rektit Kital wrote in their Last x post about the weekly card.

“Bitcoin is far from one nearly decimatory close.”

BTC / USD One-Week One-Week. Source: Rekt Capital / X

The pupil trader’s trader said that while the ending of the weekends can typically send as the market markets reappered, there was a hopes of new high-time.

“Only an upward movement 10% will cause $ 18b + in the short liquidations and large money is probably watching” SUGGESTED about the conditions of liquidity.

“My assumption is that Monday could be a little superacy with BTC portrayed their weekend pump. After we can see a bite above $ 120,000.”

BTC / USD Two-Week Chart. Source: BitBull / X

A coupled chart compared btc / USD now to the preceding tori markets to support discovery thesis.

Merny Trade Sperner agreed on the target of $ 120,000 based on a potential squeeze.

BTC Price CME GAP to US $ 11600 to the radar

Considering where the next BTC Price could reverse, mean the investor crypto and enterpriseur Ted Cillows suggest that the price action if its rude Continue to coincide with “Gaps” in the cmE group market.

In relation: Bitcoin energy value metric says “Fair” BTC Price is as low as $ 167k

“There’s a CME Gap around $ 116.5k, that will be most likely,” he Summarize in part of a post x.

“This week, BTC has dropped $ 2k to fill in the CME’s CME’s Gap. Then, Bitcoin could rally to a new ath.”

BTC / USDT perpetus exchanges of 15 minutes. Source: Ted / x pillows

Trader Daan Crypto trade is described the weekend movement as “choppy” rather than trending.

“Most emphasis is on $ entinating their cycle and height of the cycle and heights that make the whole type of moves,” he discussedrefer to the largest Ether Ether (Etth), what you do Hit MultiYear Highs. I am

“Assume BTC take the spotlight for a moment that breaks $ 120k + and get to his own all the time again.”

1 / USD 1 week cards. Source: Bladeltaph / Tradingoview

This item does not contain advice or investment advice. Any movement of investment and business involves risky risk, and readers should make their own research when it makes a decision.