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Bitcoin Eyes $120,000 Amid a New US-China Tariff Pause


Main points:

  • Bitcoin stages are late in weekly closure with the price approaching important liquidation areas.

  • Traders and analysts emphasize the various main price points for the next restoration.

  • It is expected to volatility based on large size trading and analysis reports.

Bitcoin (BTC) rose above $ 119,000 on Sunday, when Bulls extended a recovery from its lowest levels for two weeks.

BTC/USD 1 hour graph. Source: CointeleGRAPH/TradingView

Bitcoin fluctuation is due to a weekly closure

Data from Cointelegraph Markets Pro and TradingView BTC/USD are close to a major restoration area.

You are now trying to close a daily over a 10 -day moving average, holding the husband with a recovery from about 114,500 dollars as the market forgot one of the largest BTC sales ever.

The rise came amid news that the United States and China have agreed to increase the delay in the entry of mutual trade tariffs.

Participants in the market focus on the main levels to search for going to the new week.

“BTC $ needs to break more than 119.5 thousand dollars to get a big step. If it doesn’t happen, this monotheism will continue,” Crypto Investor and TED PLOWLOWS were summarized in a post on X.

“I think BTC can break above this level next month, which will start in the next stage.”

BTC/USDT scheme for 4 hours with RSI data. Source: Ted Al -Wasayd/X

Rekt Capital, a slightly higher roof, reduced a slightly lower roof than a brand of $ 120,000.

“I closed Bitcoin daily over the low blue range, as a break in the lost range began for a very short period,” said to X followers along with printing from the daily BTC/USD chart.

“Any low scope decrease (manipulates a new higher level) will be an attempt to re -test to confirm the restoration.”

BTC/USD scheme for one day. Source: Rekt Capital/X.

Others have warned that the price could still fill the daily negative wire that the trip left to $ 114,500.

On the subject of X on this theme, a Trader Crypnuevo colleague set a negative goal with a scope of the stock exchange of the stock book.

“If we minimize, we can see that the main liquidation level is 113.8 thousand dollars,” commented.

Thus, I consider that the negative liquidation group is the natural goal in the medium term (114.5 thousand dollars-113.6 thousand dollars). “

The analyst sees “the largest price fluctuations” after that

Meanwhile, you put the latest data from the Codinglass “MAX PAIN” resources for about $ 119,650.

Related to: The analyst warns of the XRP portfolio associated with Larsen

In the event that Bitcoin returns to challenge its highest levels ever near $ 123,000, the short qualifiers will achieve more than $ 1.1 billion.

Bitcoin exchange filter (screenshot). Source: Coinglass

“A strong resistance forms about 119,000 to 120,000, indicating dense filter groups,” Crypto Platform Coinank agreed while examining his liquidity data.

In addition, the analyst Thekingfisher warned of the increasing fluctuations on short time frames.

“The mostly red vision on the BTC Gex+chart. This indicates that the customers are largely short, indicating that they may double the fluctuations to hedge their positions,” he said at x Sunday.

“Expect potential price fluctuations in the short term. Watch these transformations closely.”

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.