Bitcoin Price Forecast: Momentum Builds Toward $120K+
On July 11, 2025, Bitcoin surged past the $111,000 mark, with high liquidation leverage volume totaling $132.48M, according to Coinglass. The heatmap reveals strong buyer interest between $108K and $111K, which acted as a major support zone, sparking the current bullish breakout.
As the price climbed toward $117K, liquidation clusters above $120K began to form, indicating potential areas of resistance where leveraged short positions may face pressure. If BTC maintains momentum and continues absorbing overhead sell walls, a move toward $120K–$123K appears increasingly likely.
The visible decline in selling pressure between $117K and $120K suggests that Bitcoin may test those levels soon. If it breaks through $120K with volume support, the next short-term target lies around $123,000. However, traders should remain cautious; a rejection near these zones could bring BTC back to the $114K–$115K support band.
Technical sentiment remains bullish, driven by increased institutional leverage activity and strong order book demand. As always, risk management is crucial in volatile conditions like this.
Note: Market conditions can change rapidly. This analysis is not financial advice. Conduct your own research before investing.
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