BTC
$115,653.11
-2.46%
ETH
$3,660.21
-3.88%
LTC
$105.72
-3.6%
DASH
$20.70
-3.51%
XMR
$303.97
-1.31%
NXT
$0.00
-2.46%
ETC
$20.14
-6.08%
DOGE
$0.21
-4.99%
ZEC
$36.31
-4.63%
BTS
$0.00
-2.32%
DGB
$0.01
-4.6%
XRP
$3.00
-3.5%
BTCD
$1,098.98
-2.46%
PPC
$0.30
-0.01%
YBC
$5,782.66
-2.46%

Bitcoin Traders Brace for a Volatility Squeeze as BTC Price Hovers Near $118K

0


TLDR:

BTC price holds $118K as traders prepare for a squeeze fueled by tight Bollinger Bands.
Liquidity clusters build above $119K, with targets set at $120K and $123K if demand persists.
Analysts highlight heavy short positions near $115K–$117K that may trigger a fast upside move.
Technical compression signals an imminent breakout as traders await the July monthly close.

Bitcoin is holding steady near $118,477, but traders say calm rarely lasts long. Dip buyers stepped in fast this week, soaking up liquidity and forcing shorts to cover. 

Now, the stage looks set for a sharp move, with multiple price clusters building above and below the current range. The market’s focus is locked on whether $BTC breaks higher or sweeps one last dip before running. Either way, volatility appears ready to return.

Bitcoin Bulls Target Liquidity Above $120K

Zen from WiseAnalyze noted that Bitcoin hit his marked dip level at $115,700 before bouncing back above the daily 20-SMA. 

He highlighted key resistance levels at $119,259, $120,300, and $123,300, with liquidity magnets stacked above $119,812. Zen expects Bitcoin to test these upper levels in the coming days, even if a brief revisit to $117,200 happens first.

He added that volume on the recent dip stood out more than price itself, signaling strong demand. If this buying pressure holds, Zen suggested the market could start hunting liquidity higher, possibly clearing multiple clusters at once.

TheKingfisher pointed to Bitcoin’s liquidation map, showing a heavy build-up of short positions between $115,000 and $117,000. 

These zones often act like magnets for price movement as traders’ stops get triggered. If Bitcoin keeps pressing higher, this imbalance could fuel a fast squeeze, with $118,580 marked as a near-term target.

He also stressed the importance of managing risk around these levels. Smart traders, he explained, watch how price behaves near liquidation clusters to track momentum.

Tight Bollinger Bands Hint at Imminent BTC Price Break

Cas Abbé observed that Bitcoin’s Bollinger Bands are now the tightest in years, a setup that often precedes sharp price swings. He noted that the daily RSI is attempting to break its downtrend, while recent dips have been quickly absorbed by buyers.

According to Cas, these signals point toward an upside move if momentum holds. He added that such technical compression rarely lingers for long, suggesting Bitcoin could soon decide its next big direction.

Bitcoin trades at $118,477, up 0.08% in 24 hours but down 0.31% on the week, per CoinGecko. 

Traders are watching the July monthly close for confirmation before placing bigger bets. For now, the $115K to $120K range remains the battleground, with liquidity sitting just above and buyers standing firm below.

If the current pattern plays out, Bitcoin’s next move could come fast.

 





Source link

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More