key takeaways:
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About a month’s bitcoin price above $ 102,400, the most monthly will be closed, proving that the bull market continues rapidly.
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Bitcoin has more than $ 107,000 weakened in more than $ 3 billion, creating a “liquidation magnet” that can send BTC price to a new level.
Bitcoin (BTC) potentially is 11 days from closing its highest monthly candle in history. After a record weekly shutdown of $ 106,407 on 18 May, BTC can make a new monthly high secure by closing above $ 102,400 this month.
With respect to the trend of its current market, bitcoin is inches away from a ‘price search’ period, as Crypto trader noted by Jelle,
In this context, the price search refers to the process where buyers and sellers interact on an undefined or non-business range to determine the market value of an asset.
A brake above all time of $ 110,000 of bitcoin will start a price search phase, run with a gradual high level in an unwanted high levels in an unwanted trading range until the markets establish a new balance between the participants supply and demand.
Cointelegraph reported that Bitcoin is close to confirming the “Golden Cross” on its daily chart, historically before rallies worth 45% to 60%. Such a step coincides with the possibility of killing new heights of BTC this month.
$ 110,000 will have a gain of 15% to 17% for bitcoins in May, its strongest performance since 2019. It will historically move forward to a large extent. Average monthly withdrawal 8%for the month.
Related: Bitcoin is indicating a golden cross – what does it mean for BTC value?
Bitcoin will evaporate ‘shorts’ above $ 107,000
Bitcoin researcher Axler Adler Junior. Has noted A major technical pattern in the current bull cycle of bitcoin, pointing to three recent examples of “compression” – the duration of tightening the value limits – maximum/minimum by rolling the maximum/minimum/minimum roll in 180 days.
The chart indicates that this compression often indicates a adjacent breakout, with the historic example set by the 2017 rally when bitcoin increased from $ 1,000 to $ 20,000.
Along with the price range -using the bollinger band suggests that instability is being created within the current cycle. The third compression phase in 2025 reflects the 2017 cycle, where the incidents of bitcoin and the stroke of supply fuel to the retail FOMO, leading to the major price rallies.
From the convenience point of bitcoin liquidation, low leveraged positions are at risk of liquidation of more than $ 3 billion, if the BTC price increases from $ 105,000 to $ 110,000. In contrast, long liquidity would have a decline of $ 94,612 to trigger a similar amount. It suggests the high probability of the slant price to push upwards to pursue liquidity from the behalf of selling instead of falling.
Technical analyst Gart Van Lagen noted a similar note Outlook, stating,
“A liquidation magnet is shining above $ 107k, ready to evaporate billions in shorts. First, BTC increased to fear. Next, it will grow on liquidation.”
Related: Bitcoin trading show BTC Gold is ready to carry ‘baton’ in six-Akara region
There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
