Key points:
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As liquidity accumulates at historical heights, the Bitcoin price coil is $107,000.
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Analysts say that as a new record climax becomes “inevitable”, a Bulls’ support/resistance of $109,000 is essential.
Bitcoin saw modest gains over the weekend, climbing 3% to $108,000 on Sunday, reflecting similar moves throughout the wider cryptocurrency market.
Traders say that after some liquidity was pulled out of $108,000 liquidity, the “inevitable” rally was “inevitable” because bids were to be made over $109,000.
Bitcoin prepares for new historical climax: Analysts
Bitcoin has been below $108,000 since its decline on June 11. This price level remains crucial for traders.
Related: Bitcoin price will be closed at $109K per week for a monthly closing of $109K
My Capital Founder Michael Van der Popp spot Bitcoin hovers around $107,450, saying that after about $108,000 liquidity around $108,000, BTC may see some minor pullbacks before breaking through all-time highs.
The accompanying chart shows that $109,000 is a key level to watch over the four-hour timeframe of BTC. “This is an area we need to break to get upward momentum,” Van der Pope said.
“Even in the next week, there may even be an inevitable breakthrough for Bitcoin.”
Analyst MAGS shared A chart shows Bitcoin price action, forming a stock and stock posture pattern over a higher time range.
The goal of this classic model is to record highs once the price breaks through The neckline of the pattern is $112,000.
Analysts said:
“Bitcoin breakthrough is coming.”
Similar Analyst Jelle shared emotions, he said Bitcoin from a Cow Flag It may trigger a massive rise in price discovery.
As Report Through Cointelegraph, the $108,000 to $110,000 level is an important psychological boundary that affects emotions if they are violated.
Accumulation of BTC liquidity $109,000
Several traders are watching potential liquidity, with bid orders thickening below spot prices, while others are above $109,000.
“As mentioned last night, Bitcoin pushed forward $109,000 in liquidity this morning. The question is, is it enough to keep moving forward and keep it?” crypto analyst Alphabtc explain In a Monday post on X.
Monitor the latest data of resources Small shop In the past 24 hours, the price was about $108,000, with most interest gathering between $109,200 and $111,000.
Liquidity worth over $47.6 million is $109,500.
$107,000-$107,400 clusters are the main liquidity area of disadvantages.
If the liquidity removed is between $110,000 and $112,300, the resulting short squeeze may push BTC back to price discovery.
As a Cointelegraph Reportthe more liquidity is concentrated around the historical peak of $112,000, the greater the expected potential upward movement.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
