Key Takeaways
Bitcoin just tagged a fresh all-time high, with momentum indicators backing the move. BTC faces a key short liquidity cluster at $123k, breaking above this could unlock the path to $125k.
Bitcoin [BTC] just ripped to a fresh all-time high, breaking into the $122k zone with a strong 2.42% intra-day move. In fact, it’s now officially Bitcoin’s most aggressive rally of the cycle so far.
How aggressive? Just a week ago, BTC traded within a narrow $109k-$110k range.
Since then, it has surged nearly 12%, outpacing even the post-election breakout, where BTC topped out at $108,230 with an 11.12% weekly gain.
Technically, it’s showing up in the indicators too. Unlike past highs where the MACD flipped bearish shortly after the top, this time it’s holding firm.
Meanwhile, the RSI is grinding higher in tandem with price, which suggests the rally isn’t running on fumes.
That’s a clear shift from how past tops played out, and this divergence matters. Why? At the time of writing, Binance data shows over 65% of accounts remain net short, reflecting persistent disbelief.
In fact, Bitcoin’s 12H heatmap reveals the nearest short liquidity pocket sitting at $123,317, with around $52 million stacked.
If this technical divergence holds, could Bitcoin be setting up for a classic short-side liquidity sweep into that zone?
Author: Ritika Gupta
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