Bitcoin ($BTC) has resumed its upward trajectory, recovering past $119,000 from a two-week low. Analysts note important liquidation levels while predicting volatility.
Bitcoin Recovery and Key Levels
Bitcoin has resumed its growth, climbing to $119,000 on Sunday, continuing the rebound from two-week lows. BTC/USD is approaching a critical reclaim area. Traders emphasize that for significant movement, Bitcoin needs to break above $119,500, otherwise, consolidation may continue. As crypto investor Ted Pillows noted, "if that doesn't happen, this consolidation will continue."
Expected Volatility and Liquidation Clusters
Market participants are focused on key levels for the week, including liquidation clusters ranging from $121,000 to $120,000 and from $114,500 to $113,600. Crypto analyst CrypNuevo mentioned that Bitcoin is currently between two liquidation clusters and warned of a potential return to the lower range boundary. "The main liquidation level is at $113.8K," he added.
Forecast for Price Swings Ahead
Recent data indicates strong resistance in the range of $119,000-$120,000. Analysts believe that if Bitcoin returns to test historical highs near $123,000, short liquidations could exceed $1.1 billion. Analyst TheKingfisher cautioned about increased volatility on short timeframes, stating, "expect potentially larger price swings in the near term."
Bitcoin's recovery and key liquidation levels create potential conditions for future price swings. Market participants continue to monitor the situation closely, expecting increased volatility.
