Bitcoin eyes $ 120,000 amidst a new US-China tariff stagnation

key points:

  • Bitcoin closes a late comback weekly as the price reaches significant liquidity areas.

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

  • Large amounts of business behavior, instability on the analysis report is expected.

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

Cointelegraph Markets Pro and TradingView’s data showed BTC/USD near 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 ever received one of the 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.

“$ BTC needs to be broken above $ 119.5k for a large step.

“I think BTC can break up

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

Popular merchant and analyst racket Capital did a slightly high -ranking just below the mark of $ 120,000.

“Bitcoin has closed the daily blue range at least, kickstarting a brake in very briefly lost color,”

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

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, Fuelo Treder Cripinyuvo identified a negative target confluence with an area of exchange order-book liquidity.

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

“As a result, I consider the natural target to be a natural target in mid-term ($ 114.5k-$ 113.6k).

The analyst sees the next “large value swings”

The latest data from Monitoring Resource co -ordination, meanwhile, puts “Max Dard” in $ 119,650 for BTC shorts.

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

Bitcoin must return to challenge all-time high near $ 123,000, a total of over $ 1.1 billion.

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

The Crypto analysis platform Cionank agreed when examining his own liquidity data, “the strong resistance indicated by the dehinus liquidity groups 119,000 – 1220,000,” agreed when examining his own liquidity data.

Analyst Thekingfisher also warned of increased instability over a short time.

“BTC Geex+ watching red on the chart.

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

There are no investment advice or recommendations in this article. Every investment and trading film includes risk, and readers should do their research while taking decisions.

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