Bitcoin Flash Update:
A $264K long liquidation just hit the market as $BTC plunged to $120,142.30, shaking out overleveraged bulls and igniting volatility across the board. The liquidation cascade signals a brief flush-out — but the real question now is whether the bulls can reclaim control or if bears are preparing for a deeper push.
Technical Outlook:
Immediate Support: $119,500 – this is the critical demand zone where buyers must defend to avoid momentum loss.
Secondary Support: $117,800 – losing this level could open the door to a sharp correction toward $115K.
Resistance Zone: $121,800 – $122,500 is the battleground where short-term sellers are stacked.
Major Resistance: $124,000 – a clean breakout above here can trigger a surge toward $127K next.
Next Target Insights:
If $BTC holds above $119.5K, expect a relief bounce toward $122K–$124K, with potential for continuation if volume returns. However, failure to hold support could invite a deeper retest of $117K, where sidelined whales might step back in.
The market is at a make-or-break point — volatility is primed, and the next few candles will define Bitcoin’s next big leg.
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