Bitcoin (BTC) has recently surged significantly, reaching a new high around $87,753 with an 8.72% increase over the past day. This rise aligns with a broader bullish trend, with strong upward momentum driven by positive sentiment in the cryptocurrency market, potentially influenced by recent political developments.
TradingView analysis of ETHNews shows that Bitcoin is in a bullish phase, with short-term support likely forming around previous resistance levels. This aligns with the increasingly positive forecast from trend-based technical indicators, with some targets aiming for $85,000 to $100,000.
Key support levels are likely to be established near recent breakout levels in the $75,000–$80,000 range. However, traders are advised to monitor volatility at these highs and the potential for a pullback as BTC approaches the next resistance level around $90,000 to $95,000.
Binance BTC/USDT Liquidation Map
This chart shows the levels of long-term and short-term liquidation concentration. Short-term liquidation leverage is marked in green, while long-term liquidation leverage is shown in red. The current price of BTC/USDT is approximately $87,950. Notable liquidation clusters, especially as leverage increases (5x, 10x, 25x, and higher).
This setup indicates that BTC prices near these important levels could trigger chain liquidations, potentially impacting price volatility. The higher the leverage, the easier these positions are to liquidate quickly when prices move abruptly.
Long/Short Ratio (Binance BTCUSDT Perpetual)
This four-hour timeframe chart shows the distribution of long and short positions. Green represents long positions, while red indicates short positions. The trend shows periods of dominant buying but also rapid fluctuations, potentially driven by market sentiment and BTC price volatility. The oscillation rate indicates how quickly sentiment changes among traders.
Observing the trend line, there have been times when short selling has significantly increased, which could be due to anticipation of a pullback. The recent high short selling levels, seen in recent timeframes, may imply a bearish sentiment, indicating traders expect prices to fall.
Bitcoin Exchange Liquidation Map
The final chart shows liquidations across multiple exchanges with similar metrics to the first chart but spread across Binance, OKX, and Bybit. This broader perspective illustrates accumulated liquidation volume at specific price levels.
Peaks in accumulated leverage liquidations indicate price levels with significant liquidations, highlighting potential support or resistance zones. If BTC approaches these levels, the market may experience higher volatility as leveraged positions are forcibly closed.
Bitcoin (BTC) is trading slightly below $85,000. It has seen a significant increase of nearly $20,000 in less than a month. Analysts are optimistic, suggesting that BTC could continue its upward trend for a few more weeks. Some even predict it could reach $125,000 by the end of the year.
