The current price is $118,400.0 with a change of $13.00 (0.00%) from the previous close.
The highest trading level during the day is $119,210.0 and the lowest trading level during the day is $117,428.0.
Here’s an expanded and updated analysis of the situation:
⚠️ Liquidation Points:
If Bitcoin's price breaks the $120,000 barrier, short positions totaling approximately $1.285 billion on centralized trading platforms (AInvest) may be crushed. This will accelerate the rise due to a 'double liquidation' of individuals.
However, if the price drops below $116,000, long position holders may face a larger series of liquidations estimated at $1.946 billion (AInvest).
🔍 Bitunix Level:
Bitunix analyst indicates strong support at $117,000, and selling pressure around $121,200, highlighting that the market is in a short-term competitive tunnel among major investors (SoSoValue).
📊 Latest Developments:
The candlesticks have formed a 'Bull pennant' pattern, suggesting a potential correction down to $115,000 before a new surge towards $136,000–$140,000 (coinglass.com).
On-chain data (like STH cost basis and MVRV) shows that the market has not yet entered the 'peak' (euphoria) phase, with the potential for continued bullish momentum (coinglass.com).
🧭 Market Recommendations:
Watch $120k and $116k as pivotal points to avoid violent fluctuations.
The level of $117k represents a target for capturing support; while $121.2k represents a potential selling pressure point.
Be prepared for minor corrections ($1000–5000) before a potential bullish wave towards $136–140k.
✅ Summary:
The levels of $120–121k represent critical waypoints and a battleground for investors with open positions.
A significant order liquidation awaits those who lag in following these levels.
We have two possibilities: a minor correction down to $115k before continuing to rise, or a rapid breakthrough to new levels.
📌 Final Advice: Set your positions at these points, and be sure to manage risks—be ready to buy on the rise or sell on the dip with every major liquidation.
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