- Bitcoin reaches a new high of $87,753, driven by strong bullish momentum and market optimism.
- Key support levels lie between $75,000–$80,000, with future resistance projected at $90,000–$95,000.
Bitcoin (BTC) has recently rallied significantly, reaching a new high around $87,753 with an 8.72% gain in the last day. This surge aligns with a broader bullish trend , with strong upward momentum driven by positive sentiment in the cryptocurrency market, possibly influenced by recent political developments.
Source: tradingview
TradingView analysis by ETHNews, suggests that Bitcoin is in a bullish phase , with short-term support likely forming around previous resistance levels. This aligns with an increasingly bullish forecast from trend-based technical indicators, with some targets pointing toward $85,000 to $100,000.
Key support levels are likely set near recent breakout levels in the $75,000–$80,000 range. However, traders are advised to watch for volatility at these highs and potential pullbacks as BTC approaches further resistance around $90,000 to $95,000.
Binance BTC/USDT Liquidation Map
Source: Coinglass
This chart reveals the levels at which long and short liquidations are concentrated. The accumulated short liquidation leverage is marked in green, while long liquidation leverage is shown in red. The current price of BTC/USDT is around 87,950. Liquidation clusters are notable, especially as the leverage levels increase (5x, 10x, 25x, and higher).
This setup suggests that BTC’s price nearing these critical levels could trigger cascading liquidations, potentially impacting price volatility. The higher the leverage, the more susceptible these positions are to quick liquidation on sudden price movements.
Long/Short Ratio (Binance BTCUSDT Perpetual)
Source: Coinglass
This four-hour interval chart shows the distribution of long and short positions. Green represents long positions, while red denotes shorts. The trend reveals periods of long dominance but also rapid fluctuations, likely driven by market sentiment and BTC’s price volatility. The ratio oscillates, showing how quickly sentiment shifts among traders.
Source: Coinglass
Observing the trend line, there are moments where shorts rise significantly, possibly due to anticipated pullbacks. The recent high levels of shorts, visible towards the latest intervals, could imply a bearish sentiment, suggesting traders expect a price drop.
Bitcoin Exchange Liquidation Map
Source: Coinglass
The final graph shows liquidation across multiple exchanges with similar metrics to the first graph but spread across Binance, OKX, and Bybit. This broader view illustrates accumulated liquidation volumes at specific price points.
Peaks in accumulated leverage liquidation indicate price levels with substantial liquidations, highlighting potential support or resistance zones. If BTC nears these levels, the market could experience heightened volatility as leveraged positions are forcibly closed.
Bitcoin (BTC) is trading just below $85,000. It has seen a significant rise of nearly $20,000 in under a month. Analysts are optimistic, suggesting that BTC could continue its upward trend for a few more weeks1. Some even predict it could reach $125,000 by the end of the year.
