BTCUSD (To Achieve More)
Updated
Bitcoin Liquidates 85M in Shorts, Eyeing 100K Price Target
- Bitcoin saw a significant surge leading up to the previous daily close, with substantial buy liquidity driving the market close to $72,000.
- This rally resulted in the liquidation of $85 million in BTC shorts within the past 24 hours, according to data from CoinGlass.
- Statistician Willy Woo commented that bulls are now challenging overhead resistance that has been in place for over a month.
Technically:
The price stabilized in the bullish zone as predicted in our previous analysis, reaching targets of 69030 and 71660.
Currently, a correction is expected down to 69040 before the price attempts to push up to a new all-time high. The price is likely to consolidate between 69030 and 71660 until a breakout occurs. A decisive break below 69030 with a daily close under this level would signal a downtrend.
Key levels to watch:
- Pivot Price: 71660
- Resistance: 73810, 76500, 80150
- Support: 69040, 66850, 64900
The price movement is anticipated to range between 69040 and 73810.
Previous idea:
Note
The price retested their support line And now the price should stabilized above 69038 to clstart a bullish trend
Otherwiae stability under support line we mentioned means will drop to reach 56700
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