Important collection restaurants
Why does Bitcoin keep $ 110k important now?
It indicates resilience, with financing percentages at 0.006 and potential $ 301 million short liquidations on CEXS.
What is the next step for BTC price promotion?
Reclaiming SMA200 for $ 113,691 could unlock $ 118,941 resistance, with upward paths aimed at $ 120k – $ 140k by October.
AAfter holding under $ 110k for two days, Bitcoin [BTC] Successfully recovered and jumped to $ 112k before he was withdrawn somewhat.
At the time of writing, BTC acted at $ 111,832, which represented a daily increase of 2.21%. On the weekly graph it fell 1.12%.
Despite the volatility, the market sentiment seemed to stabilize.
Market sentiment is steady
Interesting is that although Bitcoin recently had to deal with challenging weeks, market participants still have to be in Bearish. In the beginning, the anxiety and greed index 50 registered at the time of the press, which signaled neutrality.
Source: Bitbo
As such, most market influences shared an optimistic picture of the market in the coming days. Thus messages on social media are emphasized that the need to defend $ 110k.
Crypto Rover Shared such a message. He stated that Bitcoin must be above $ 110k $ 112k, which will determine the market for a revival.
At the same time, others like Trending bitcoin Also shared long-term projections and looked at a rally between $ 160k $ 170k.
These messages on social media indicate that Bitcoin will return if the most important support levels are regarded, resulting in more profit with October resulting.
Source: Trending Bitcoin on X
Futures hints with a short squeeze
While influencers watched rallies, futures markets indicated recovery. The financing figures of BTC became positive on September 29 after two negative sessions.
Source: Cryptuquant
From the moment of the press, the financing percentage was 0.006, which suggests that the long positions of investors had recovered considerably.
If the demand for lungs applies, this will result in considerable upward pressure on the BTC price. If this is the case, the short will be liquidated.
If BTC tests $ 113k again, the cumulative short liquidation intensity on large CEXS $ 301 million could reach, so that the momentum is fueled to $ 120k.
Source: Coinglass
Buyers get ground on CEXS
Even more important is that investors at centralized stock exchanges (CEXS) had become bullish. According to Axel AdlerBitcoin’s 30 -day Netflow remained negative with -170k BTC.
Source: Cryptuquant
This implied that 170k BTC had flowed from fairs compared to the intake. When the outflow exceeded, buyers dominated.
Historically, the negative Netflow is tailored to reduced sales pressure, often prior to higher prices.
Bitcoin – Price promotion – Key levels!
According to the analysis of Ambcrypto, BTC experienced a shift in sentiment, in which bulls dominated the CEXS and Futures market.
That is why these market conditions position BTC in a favorable position for more profit in the coming days. It must first regain the 200-day SMA for $ 113,691 and the Bollinger band for $ 114.003.
Source: TradingView
Breaking these levels would set up a test of $ 118,941, the top band of Bollinger. Continuous force can push BTC to $ 123,852.
If October follows the historic Q4 trends, BTC can focus on a new ATH, with $ 130k as the basis and $ 140k as the bullish case.