Bitcoin (BTC) has recovered from recent two-week lows near $114,500, climbing above $119,000 as bullish momentum strengthens. The cryptocurrency now navigates critical liquidation zones between $114,500 and $121,000, creating a range-bound environment primed for potential volatility spikes.
Analysts identify $119,500-$120,000 as the pivotal resistance threshold. Breaking above this barrier is considered essential for Bitcoin to initiate a sustained upward price movement toward higher targets.
Key liquidation clusters are concentrated in two primary areas: $120,000-$121,000 acting as resistance and $113,600-$114,500 providing support. These clusters are expected to significantly influence short-term price fluctuations and potential liquidations.
The current market environment, characterized by reduced macroeconomic uncertainties, has aided Bitcoin’s recovery. However, all eyes remain fixed on the resistance levels as failure to breach $119,500 could prolong the current consolidation phase and invite renewed selling pressure.