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Bitcoin has just tagged a fresh of all timeWith momentum indicators that support the movement. BTC is confronted with an important short liquidity cluster for $ 123k, which breaks above, can unlock the path to $ 125k.
Bitcoin [BTC] Simply torn to a fresh of all time and break into the $ 122k zone with a strong intra-day step of 2.42%. It is now even officially the most aggressive rally of the Bitcoin cycle to date.
How aggressive? Only a week ago, BTC traded within a narrow $ 109k $ 110k range.
Since then it has risen almost 12%, and even surpassed the outbreak after the elections, with BTC at $ 108,230 with a weekly profit of 11.12%.
Technically, it is also displayed in the indicators. Unlike highs from the past where the MacD Bearish rotated shortly after the top, this time it was holding.
In the meantime, the RSI is sharpening higher in combination with price, which suggests that the rally is not on fumes.
Source: TradingView (BTC/USDT)
That is a clear shift of how past tops have played, and this divergence is important. Why? At the time of writing, Binance facts Show more than 65% of the accounts remains short, which is a reflection of persistent disbelief.
Bitcoin’s 12h heatmap even unveils the nearest short liquidity pocket with $ 123.317, with around $ 52 million stacked.
If this technical divergence applies, could Bitcoin set up for a classic liquidity of the short side in that zone?
Highs all-time you pick up as Bitcoin-EGEN Next liquidity objective
As ambcrypto marked, Bitcoin’s back-to-back all-time highlights are not only “hype”. Instead, they are supported by billions who flow into ETFs, strong Hodler -beliefs and a wave of short liquidations that keep the momentum alive.
In addition, cryptoquant facts Shows We are not yet in the entire euphoria, which underline the technical divergence that we see.
Simply put, the risky appetite remains raised, with the feeling anchored in greed but not yet surrounded in mania.
Source: alternative.me
That places the $ 52 million shorts liquidity cluster About $ 123k firm in focus. A decisive break above this zone can open the door for Bitcoin to then aim the $ 125k level.
Given the current technical arrangement and the underlying sentiment, that scenario seems increasingly likely.