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Bitcoin entrepreneurs look forward to highs as BTC coils under liquidity


Basic Points:

  • Bitcoin changed $ 113,000 before opening Wall Street on Tuesday in the middle of a talk about a new transfer of gold copycat.

  • That level becomes a recommendation for long entries, but not all are bullish.

  • Liquid conditions show a $ 115,000 short squeeze in labor.

Bitcoin (Btc) Back to $ 113,000 on Tuesday as BTC prices began to change.

BTC/USD one hour chart. Source: Cointelegraph/TradingView

BTC price rebound is lacking in “strong spot demand”

Data from Cointelegraph Markets Pro and Tradingview showed new local high $ 113,279 on open Wall Street.

BTC/USD is built on a higher low from the weekend, which retained $ 110,000 as support.

Today, market participants have seen the potential for bulls to make a longer attack on overhead resistance.

“There we go,” Crypto trailer, analyst, and businessman Michael of Pupe wrots in a Response In X.

Van de Poppe noted that Bitcoin has reclaimed the 20-day simple moving average (SMA) near $ 111,500, and also restored the $ 112,000 mark.

“Gold is promoting strong new ATHS -> $ BTC likely to follow,” he continued, determining Bitcoin’s habit of Following the breakouts on the xau/USD with minimal delay.

BTC/USDT one day chart. Source: Michaël van de poppe/x

Meanwhile, fellow businessman Crypto Tony, described $ 113,000 as an appropriate point of entry.

“More than $ 113,000 is a long -day -day position,” he confirmed to followers of x.

BTC/USDT Perpetual Contract One day chart. Source: Crypto tony/x

Others were careful, among them were crypto investors and businessman Ted Pillows, who flagged a lack of interest in the spot-market as a reason to doubt the maintenance of the current local climb.

Bitcoin Liquidity Flush “always a possibility”

Meanwhile, a view of Crypto Exchange Order-Book Liquidity shows a Thick lines of asked questions Immediately above the price, up to $ 114,500.

Related: BTC Dip predictions have fallen below $ 90K: 5 things to know in Bitcoin this week

BTC Liquidation Heatmap. Source: Coinglass

It caught the attention of some merchants, suspected that the patch resistance could be a deliberate ploy to influence the price of the price.

“$ BTC is knocking on the door of a high-leverage short zone,” crypto investors and data analyst CW Commented.

Overnight, indicators of material resources of trading Forecasting That the zone below $ 115,000 can provide “some friction” for bitcoin bulls.

Despite this, it argued, the macroeconomic tailwinds – specifically in the form of interest rates of cutting the US Federal Reserve next week – should provide “return to the high.”

“Don’t let it fool you in thinking that there can’t be another flush to support because it’s always the possibility,” he warned.

BTC/USDT Order-Book Liquidity Data with whale orders. Source: Material/X indicators

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.