Basic Points:
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Bitcoin tags are new August high as businessmen see BTC shorts being punished.
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An early retement can be a trip to $ 120,000, the predictions say.
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A CME space at $ 116,500 is interested as a possible next local low.
Bitcoin (Btc) approaches $ 119,000 to the “decisive” weekly week as entrepreneurs expect a strong week.
Bitcoin entrepreneurs for the giant short squeeze
Data from Cointelegraph Markets Pro and Tradingview BTC/USD showed up to $ 118,760 in Bitstamp, which marked the new highs of August.
“Out-of-Hours” weekend trading has seen higher fluids, with a 24-hour total crypto to $ 350 million, per data from resource monitoring Coinglass.
Commenting on market structure, crypto forecasts favors further development in the new week.
“The BTC is in the cusp of a reclaiming ~ $ 117200 back to support,” the famous businessman and analyst Rekt Capital wrote to him Latest x post about the weekly chart.
“Bitcoin is time away from a decisive weekly close.”
Famous businessman Bitbull said that while weekend price movements may usually reverse as the Trade markets reopen, there is hope for the new time highs next.
“A 10% upward move will cause $ 18b+ to short and the big money is probably watching it,” he suggested about the conditions of liquidity.
“My guess is that Monday could be a pretty bearish with BTC returning to the weekend bomb. After that, we’ll see a move above $ 120,000.”
An accompanying chart compared to BTC/USD today in previous bull markets to support breakout thesis.
Businessman Merlijn has come up with a target of $ 120,000 based on a potential short squeeze.
$ BtcNext Moving: $ 120,000
The biggest pool of liquidity in the weeks is sitting above us.
If you are short here … God will help you.
Short loading squeeze. pic.twitter.com/vxmexkh3jj
– Merlin the entrepreneur (@merlijntrader) August 10, 2025
BTC price CME gap at $ 116,500 on radar
Considering where BTC’s next BTC can reverse, meanwhile, crypto investor and businessman Ted Pilows suggested that the price action is Continue at the same time with “gaps” in the CME group’s bitcoin futures market.
Related: Bitcoin Energy Value Metric says ‘Fair’ BTC price is more $ 167k
“There’s a CME space around $ 116.5k, which is likely to be filled,” he Summary In part of an x post.
“This week, the BTC dropped $ 2K to fill the CME gap last week. After that, Bitcoin could have rallied towards a new ATH.”
Entrepreneur Daan Crypto describes the weekend’s moves as “choppy” instead of trending.
“Most focus is on $ eth that destroys the highs of the cycle and alts that make all kinds of motions,” he he he he he ArguedDetermines the largest altcoin ether (Eth), where Press MULTIYEAR HIGHS.
“Suppose the BTC takes the spotlight again a little once it breaks $ 120k+ and is close to its own all the time again.”
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
