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


key points:

  • Bitcoin weekly returns late because the price reaches significant liquidity areas.

  • Traders and analysts emphasize various major value points to recover the next.

  • Large amounts of business behavior are expected to instability based on analysis report.

Bitcoin (BTC) rose above $ 119,000 on Sunday as Bulls increased a rebound with two weeks of climb.

BTC/USD 1-hour chart. Source: Cointelegraph/TardingView

Bitcoin value instability returns weekly

Data Pro from cointelegraph markets and Tradingview Shown BTC/USD close to a major reclaim area.

Now trying to close a daily closure over its 10-day simple moving average, the pair was held on a rebound near $ 114,500, as the market forgot one of the largest BTC sales.

In the midst of this news, it was reported that the US and China had agreed to delay the introduction of mutual trade tariffs.

The market participants focused on major levels to go in the new week.

Crypto investor and entrepreneur ted pillow, “$ BTC needs to be broken above $ 119.5k for a big step. If this does not, it will continue to consolidate,” Crypto investor and entrepreneur Ted pillows Abbreviation In a post on X.

“I think BTC may break above this level next month that will start the next leg.”

BTC/USDT 4-hour chart with RSI data. Source: Ted Pillow/X

Popular merchant and analyst racket Capital did a slightly more range of range just below the $ 120,000 mark.

“Bitcoin has closed the daily blue range at least, kickstarting a brake in a very briefly lost range,” told X followers with a print of daily BTC/USD chart.

“Any range takes a dip in low (confluence with new higher lower), a retract effort to confirm the re -receipt.”

BTC/USD 1-day chart. Source: REKT Capital/X

Others warned that the price may still fill the daily negative wick left by a journey of $ 114,500.

In an X thread on the subject, fellow trader Crypnuevo identified a negative target confluence with an area of exchange order-book liquidity.

“If we zoom out, we can see that the main liquidation level is at $ 113.8k,” he commented.

“As a result, I consider the negative liquidation cluster as a natural target in the mid-term ($ 114.5k-$ 113.6k).”

The analyst sees the next “large value swings”

Latest data from monitoring resources Coalus Meanwhile, the “maximum pain” for BTC shorts puts around $ 119,650.

Connected: XRP Wallet, who is still associated with Chris Larsen, still has $ 9B to sell, analyst warns

Should Bitcoin $ 123,000 return to challenge the all-time high, the short liquidation will be more than $ 1.1 billion.

Bitcoin exchange liquidation map (screenshot). Source: Curring Class

Crypto analysis platform Cinac, “Strong resistance around 119,000-120,000,” Agreed When checking your own liquidity data.

Analyst Thekingfisher Additionally Wags Increased instability on a short deadline.

He told X Sunday, “Looking at the BTC Gax+ red on the chart. It indicates that the dealers are very few gamma, suggesting that they can increase volatility to hedge their positions.”

“Expect potentially larger value swings in the near period. Monitor these changes closely.”

There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.