$BTC just saw an exciting short liquidation event, with $29.013K of shorts getting liquidated at the price of $98,682.3. This has sparked significant movement in the market, and it's time to analyze what's next.

What Does This Mean.

Liquidations like these create price volatility. When traders are forced to close their positions due to market moves, it often causes rapid price shifts. In this case, the liquidation has likely driven Bitcoin's price up, but it also creates a short term opportunity for both bulls and bears.

What's Next.

Based on current market conditions, here’s a breakdown of the next possible movements for Bitcoin.

1. Buy Zone.

Ideal Entry Point. Look for a price around $96,000 - $97,500 as a good entry for buying. This range represents a potential pullback after the liquidation event, allowing you to enter at a relatively lower price before the next upward move.

2. Target Levels.

Short-Term Target. $103,000 - $104,500. If Bitcoin continues its bullish momentum after the liquidation, this is a reasonable area to look for profits. Traders will likely target these levels as the next resistance zone.

Long-Term Target. $110,000 - $115,000. In a more extended bullish scenario, Bitcoin could continue its climb toward these higher levels, breaking new resistance zones.

3. Stop Loss.

Risk Management. Place your stop loss around $94,500 - $95,000. This helps protect your position if the market moves against you. You’ll want to stay protected in case Bitcoin drops below the current range, signaling potential bearish movement.

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