Bitcoin prices to $111K? – THESE indicators flash warning signs

Key Points

1. Bitcoin was trading just under $118K after a 4.24% dip from its all-time high of $123,091, with social media engagement turning bearish.

2. The exchange whale ratio was at 0.52, with its 30-day Moving Average rising since May; historically, readings of 0.5 suggest short-term corrections.

3. Key resistance at $118K is a battleground; a sustained move above it could push Bitcoin to $122K-$124K, while failure to reclaim it may lead to further declines.

4. Liquidity clusters at $113.2K and $121.8K were noted, with a move higher appearing likely at the time of writing.

5. Long liquidations exacerbated recent losses, driving prices to $115K, with $111K-$112K seen as an attractive zone for price gravitation.