Basic Points:
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Bitcoin rounds a $ 120,000 mark while entrepreneurs are boosting liquidity on both sides of the area’s price.
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The analysis sees bulls that respond to “imbalance” to the market higher.
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Long -term bearish divergences continue to doubt the future of the Bitcoin Bull Market.
Bitcoin (Btc) combined $ 120,000 support on Friday’s Wall Street open as a review prepared for a fresh short squeeze.
Business Eyes $ 123,000 BTC Liquidity
Data from Cointelegraph Markets Pro and Tradingview showed a cooling of short -term volatility of BTC prices during the day.
The BTC/USD hits new locals high in the morning close, with a level to defeat today at $ 121,100.
Commenting on the current set-up of the market, popular businessman Crypnuevo eyed overhead will ask for liquidity as a next target.
“The liquids at $ 120k are that -hit,” he summarizes the part of his Latest review In X.
“Now we are in this Liquidity Pool (LP) representing an imbalance in the chart and needs to be completely backward ($ 123.2k).”
Data from Coinglass Moreover showed mass bids around $ 118,500, representing potential support in the event of a market correction.
On the subject of a potential retirement, famous businessman Bitbull suggested it could come thanks to a flowing in Open interest (Oi) in the derivatives markets.
“In the next 1-2 weeks, BTC and Alts will have a huge seizure,” he predicted in part of a X post.
“It will force people to sell their coins as they think that UPTOBER is over. After that, Bitcoin and Alts will re -intersect and hit new highs.”
Coinglass data places total futures oi in exchanges at a record of $ 88.7 billion a day.
Differences -Bearish variety brings a remembrance
An additional argument for the line problem derived from fellow businessman Roman, with Bearish -eyed KaMag -Kaba -child index -child -child (RSI) Differences -Different Sun and Weekly Time.
Related: What is the $ 110k gap? Bitcoin futures are ‘aggressively long’ as whales return
A bearish divergence occurs when the RSI hit the lower highs as the price hit the higher – something playing around the current $ 124,500 Bitcoin note.
“I wonder how long $ BTC can ignore the differences -they are different and the lack of momentum at 1W and 1m,” Roman Queried Tuesday.
“The volume also tells us that there is a lack of strength. Just a few hours before they play. Be careful to handle it.”
Number Cointelegraph reportedThe four-hour RSI continues to sit on the “overbought” territory, strengthening low-timeframe cooling expectations.
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