BTC Historical High After High Position Volatility! 114000-116000 Becomes Bullish Target, 106000 Support Becomes Retracement Defense Line
After this surge, Bitcoin has started to stabilize and fluctuate at a high position, currently maintaining a range around 111000, inducing short positions while washing out the uncertain long positions. Then we look for where the liquidation liquidity is large, which may guide the short-term direction!
In terms of trend:
After breaking the historical high, there isn't a particularly significant trend to speak of. On the contrary, what needs more attention is the market psychology's resistance level. Looking at the liquidation liquidity map, the upper level is still around 114000, as mentioned by Sister Sheng to the brothers yesterday, and we can consider an upward range of 2000 points, which is around 116000. Secondly, above that is based on 125000 + 2000 points, which is around 127000! On the downside, pay attention to the previous high point around 106000; only a break below that might trigger a significant retracement adjustment!
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BTC Analysis: May 23, 2025 Daily Chart
