Bitcoin analysis warns BTC price 'going lower' first as $113K slips
Main Idea
Bitcoin's price is expected to drop towards $109,000 before potentially rebounding, with analysts highlighting a lack of upward momentum and key liquidity levels.
Key Points
1. BTC price forecasts suggest a short-term decline closer to $109,000, with volatility expected to return.
2. Order-book liquidity data shows limited bid support above $110,000, indicating potential downside pressure.
3. Analysts note that the $109K–$116K range is being filled on dips, with limited distribution from the $118K–$120K range.
4. Some traders highlight the presence of short liquidations above current prices, which could act as fuel for upward movement.
5. Market observers anticipate increased volatility soon, with a potential breakout expected after a period of rangebound trading.
Description
Bitcoin lacks upward momentum as eyes fall on old all-time highs near $109,000 — can upside liquidity provide the springboard bulls need?
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