Bitcoin hits new all-time high above $119K as trader eyes 7-week uptrend
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Market Musing-g
Bitcoin hits new all-time high above $119K as trader eyes 7-week uptrend
Bitcoin
Bitcoin hits new all-time high above $119K as trader eyes 7-week uptrend
Table of Contents
BTC price spikes to new record near $19,500
Room for 50% gains?
Key points:
Bitcoin tags fresh record highs into the weekly close as liquidations punish shorts.
BTC price areas of interest include a support test of $115,000.
Hopes build that BTC/USD will copy its seven-week “discovery uptrend.”
hit new all-time highs on Sunday as BTC price volatility returned into the weekly close.BTC price spikes to new record near $19,500
The pair eclipsed its previous record peak from two days prior as it crossed the $119,000 mark for the first time, liquidating shorts as it went.
The latest data from monitoring resource coin glass put short BTC liquidations at over $20 million in a single hour.Going to get interesting next week. We've got a lot of big liquidity clusters above and below the current price. We just took out a good bunch at the $119K+ region,” popular trader Daan Crypto Trades reacted in a post in binance.Daan Crypto Trades eyed two key liquidation-related zones to watch next: $115,500-116,500 and the area above $120,000.
🚨 ALERT: 24h liquidations hit $208M as 95K traders wrecked.
The biggest single loss was a $1.49M BTCUSDT position on Bybit. https://accounts.binance.com/register?ref=461429047
$BTC has a major resistance level between $119K-$120K. But after that, there's a lot of upside,” trader and investor Niels, cofounder of Web3 accelerator and incubator Ted Labs, continue.“If $BTC manages to break above $120K, the path towards $135K-$140K will open. In case of a rejection, BTC could retest $114K-$115K before reversal.”Room for 50% gains?
Others zoomed out, with trader BitBull staying firmly optimistic on the immediate outlook for BTC price action.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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