Bitcoin nears $120K as analysis predicts 'larger price swings' next
Main Idea
Bitcoin's price approaches $120K with analysts predicting increased volatility and key price levels to watch, influenced by market behavior and geopolitical developments.
Key Points
1. Bitcoin surged above $119,000, with traders focusing on reclaiming key price points like $119.5K for a significant move.
2. Volatility is expected due to large-volume trading behavior, with resistance noted around $119,000–120,000.
3. The US and China agreed to extend their pause on tariffs for another 90 days, impacting market sentiment.
4. Analysts highlight liquidation levels at $113.8K and potential short liquidations exceeding $1.1 billion if Bitcoin challenges all-time highs near $123,000.
5. Market indicators suggest dealers are positioned for larger price swings, with a focus on resistance and support levels.
Description
Bitcoin suddenly ups the volatility into Sunday's weekly close, with key liquidation zones on the radar and predictions of bigger BTC "price swings" to come.
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