Bitcoin Price Eyes Demand Zones In Higher Timeframes – Here’s The Target

The recent Bitcoin price move seems to be going according to plan in an analysis shared by crypto analyst ￰0￱ post, which was shared on the TradingView website, showed a possible path that the Bitcoin price could follow this period, showing both bounce-off and resistance points. Now, with Bitcoin already clearing $117,000, it seems that the next phase of the analysis could be playing out from here, and the crypto analyst is quite ￰1￱ Happens After The Bitcoin Price Touched $117,000? In the analysis, Thomas pointed out that the Bitcoin price had successfully cleared out local highs and was able to take out the liquidity above the previous range .

However, there were inefficiencies that had been left behind after the previous move that were inadvertently filled by a temporary ￰2￱ the market correction that saw the Bitcoin price move toward $112,000, there is now a clearer structure ￰3￱ now, the Bitcoin price is moving toward the demand zones on the higher timeframes, and this could push the price ￰4￱ analysis points out that the correction from the liquidity sweep pushed the Bitcoin price to test key imbalances, with a bullish shift happening since then. Also, there is an inverted daily gap that has already been tested several times at around $114,000, and with this level holding, it shows that there is a lot of support ￰5￱ thing that the liquidity sweep has shown is that the buy-side pressure has now been ￰6￱ has led to a reset of the market, and from here, any moves in any direction will be more ￰7￱ the price rising higher from here looks to be the most likely ￰8￱ High Can BTC Go?

If the structure outlined by the crypto analyst holds, then the Bitcoin price could see another small correction from its current local ￰9￱ this is done, the next step is the creation of the balance that would help to drive the digital asset’s price ￰10￱ analyst explains that if the Bitcoin price holds up the inverted daily gap, then the next target would put it above the $120,000 level, where the next resistance zone lies. However, a loss of this inverted gap and subsequent trendline support would be very bearish for the ￰11￱ would trigger another correction back toward the $111,000-$112,000 territory. “Bitcoin has absorbed liquidity, filled inefficiencies, and inverted a daily gap that is now holding as support,” Thomas explained.

“Combined with the ongoing daily uptrend, this strengthens the bullish outlook with a clear target toward the 120,000 USDT resistance zone.”