Bitcoin is ready for “flying” short pants once the price began to discover above $ 110,000
Main meals:
-
The price of Bitcoin at the end of the month will determine $ 102,400, the highest monthly closure ever, proving that the upward market continues at a rapid pace.
-
More than $ 3 billion in weak Bitcoin short positions above $ 107,000, creating a “filter magnet” that can send the BTC price to its highest new levels.
Bitcoin (BTC) is 11 days of determining the highest monthly candle in history. After achieving a weekly conclusion of 106,407 dollars on May 18, BTC can secure a new monthly monthly by closing above 102,400 dollars this month.
Regarding the current market, Bitcoin is a bush from the period of “discovering prices”, such as Note Jelle’s encryption dealer.
The discovery of prices in this context indicates the process in which buyers and sellers interact in an unspecified or unlimited range to determine the market price per assum.
A lounge higher than the highest level in Bitcoin ever, amounting to $ 110,000, will start the price discovery phase, leading to the BTC leadership to anonymous trading range with the highest consecutive levels so that the market participants create a new balance between supply and demand.
Cointelegraph reported that Bitcoin is about to confirm the “Golden Cross” on the daily chart, which has historically previously 45 % to 60 % price marches. Such a step coincides with the possibility of BTC hitting new levels this month.
The monthly closure near $ 110,000 will retain an increase from 15 % to 17 % for Bitcoin in May, and its strongest performance since 2019. This will significantly exceed the historical date Average monthly return From 8 % for this month.
Related: Bitcoin refers to a golden cross – what does it mean for the BTC price?
Bitcoin will evaporate “short pants” over $ 107,000
Bitcoin Axel Adler Junior. Note One of the main artistic style in the current bull cycle of Bitcoin, referring to three recent cases of “pressure” – a period of tight price ranges – measured by the maximum/minimum trading of more than 180 days.
The graph indicates that this pressure often indicates an imminent outbreak, with a historical precedent set by the 2017 march when Bitcoin rose to $ 20,000 from $ 1,000.
The use of Bollinger ranges alongside the price range indicates that fluctuations are built within the current cycle. The third pressure phase in 2025 will reflect the 2017 session, when the Bitcoin events and the supply of shocks fed FOMO in retail, prompting major price pools.
From the point of Bitcoin liquidation, more than $ 3 billion in short benefit positions is at risk of liquidation if the BTC price moves to $ 110,000 from $ 105,000. On the other hand, it will take a decrease to $ 94,612 to stimulate a similar amount in the long qualifying. This deviation indicates a higher probability of the price that is pushed up to chase liquidity on the side of the sale rather than decrease.
Technical analyst Gert Van Lagan noticed similar Expectations, saying,
“The filtering magnet glows over $ 107,000, ready to vaporize billions in short pants. First, BTC rose on fear.
Related: Bitcoin trading in six numbers shows BTC ready to carry a “Baton” gold XCOC
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.