BTCUSD (To Achieve More)

Bitcoin Liquidates $85M in Shorts, Eyeing $100K Price Target

• Bitcoin saw a significant surge leading up to the previous daily close, with substantial buy liquidity driving the market close to $72,000.
  
  
• This rally resulted in the liquidation of $85 million in BTC shorts within the past 24 hours, according to data from CoinGlass.
  
  
• Statistician Willy Woo commented that bulls are now challenging overhead resistance that has been in place for over a month.
  
  Technically:
  The price stabilized in the bullish zone as predicted in our previous analysis, reaching targets of 69030 and 71660.
  
  Currently, a correction is expected down to 69040 before the price attempts to push up to a new all-time high. The price is likely to consolidate between 69030 and 71660 until a breakout occurs. A decisive break below 69030 with a daily close under this level would signal a downtrend.
  Key levels to watch:
  - Pivot Price: 71660
  - Resistance: 73810, 76500, 80150
  - Support: 69040, 66850, 64900
  
  The price movement is anticipated to range between 69040 and 73810.
  
  Previous idea:
  
  

Comment:

The price retested their support line

And now the price should stabilized above 69038 to clstart a bullish trend

Otherwiae stability under support line we mentioned means will drop to reach 56700