Bitcoin consolidates within bull patterns—eyes $116,652 breakout.
A break could trigger short squeezes pushing toward $165K+.
Wider market tailwinds—from ETFs to macro data—support the move.
Crypto analyst Javon Marks highlights multiple bull‑pattern confirmations on lower timeframes, with Bitcoin gearing up to “take the latch off” the key $116,652 resistance. This level has been marked repeatedly on his X (formerly Twitter) as the next major hurdle.
Short Squeeze Could Ignite a Surge
A recent analysis reveals over $5 billion in short positions clustered around the $115K–$116K zone—suggesting a potential liquidations cascade if Bitcoin breaks above . Marks suggests that once squeezed, BTC could sprint toward $165,000.
Macroeconomic & Institutional Tailwinds
Institutional inflows: Bitcoin ETFs now manage ~$132 billion—up from $91 billion in April .
Technical momentum: A flag‑breakout and “golden cross” (50‑day MA above 200‑day MA) support further upside toward $137K and beyond
Macro boost: Favorable macro data—like cooling inflation—reinforces risk appetite and crypto interest.
What Traders Should Watch
LevelWhy It Matters$116,652 breakoutConfirms bullish patterns and triggers short squeeze → potential rally to $165K+$112K–$115KImmediate resistance zone—needs sustained volume to breach$107K – $100KKey support bands if overhead fails investopedia.com+6investopedia.com+6bitget.com+6themarketperiodical.com
Coming from multiple bull patterns on lower timeframes, Bitcoin is looking near ready to take the latch off of another key target level, this time at $116,652!
This target level is important as a break above can be what brings in play the $165,000+ levels and $BTC looks to be… https://t.co/ocykdb6pzP pic.twitter.com/Z3qA9poHwi
— JAVONMARKS (@JavonTM1) June 15, 2025
Outlook: Is $165K Next?
If Bitcoin breaks and holds above $116,652, it may enter a short-squeeze emergency, amplifying buying pressure. With institutional backing and constructive macro cues, momentum favoring bulls, and technical charts in support, the path toward $165K appears plausible. However, failure could see a retracement to $107K–$100K, testing bull resilience.
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