Bitcoin’s weekly candle turned green, with the $111K resistance now in focus as bulls look to confirm a macro uptrend.
A 10% move upward could liquidate $15.11 billion in shorts, creating pressure that may accelerate Bitcoin’s rally above $110K.
Negative funding rates show increased short interest, while tightening supply and strong structure support further bullish continuation.
Bitcoin's weekly candle has flipped green, showing signs of renewed strength. Traders are now watching closely for the weekly close to confirm momentum.
Green Weekly Candle Draws Focus to $111K Resistance
Bitcoin Archive reports that Bitcoin’s weekly candle has turned green. This type of formation has historically preceded upward breakouts. In both early and late 2024, similar green candles followed brief corrections before leading to new highs.
https://twitter.com/BTC_Archive/status/1931349121920590171
At the time of reporting, Bitcoin is trading near $105,700. A close above the $111,000 resistance could validate bullish momentum. This would mark a higher low and signal a potential continuation of the macro uptrend. Bitcoin Archive also noted that previous consolidation breakouts have targeted the $150,000–$170,000 zone, setting the stage for a possible repeat pattern.
The April 2024 halving has added to the tightening supply. Combined with strong technical conditions, this setup closely resembles past bull cycles. Market watchers consider the weekly close an essential indicator of buyer strength and broader sentiment.
Liquidation Cluster Suggests Volatility Ahead
Cas Abbé shared data indicating a major liquidation cluster forming around current price levels. If Bitcoin rises 10% from current levels, it could trigger $15.11 billion in short liquidations. Meanwhile, a 10% drop would liquidate $9.58 billion in longs.
https://twitter.com/cas_abbe/status/1931606048772669742
This setup shows that market leverage is positioned for a potential breakout. The recent shift to a negative funding rate supports the view that traders are increasing short positions. Such a shift often precedes high volatility, as the market builds up pressure for a decisive move.
Cas Abbé noted that a sharp move could push Bitcoin past $109,000 to $110,000 in the short term. This aligns with the ongoing technical picture and further increases interest in the coming week’s price action.
Price Structure Suggests Macro Continuation
With price currently holding above $105,000, Bitcoin appears to be stabilizing after its previous correction. The weekly candle suggests growing market confidence as it forms a base for potential breakout.
Bitcoin Archive emphasized that a green weekly close would reflect demand strength from both institutional and retail investors. If confirmed, this could mark the beginning of a renewed leg higher, driven by tightening supply and technical alignment.
The market remains on alert as Bitcoin tests critical levels, with Sunday’s close seen as a key moment for trend validation.
The post Bitcoin Weekly Candle Turns Bullish as Price Eyes $111K Breakout appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
