Key points:
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Bitcoin labeling the new vertices of August while merchants see BTC punisted shorts.
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Early retrace could well transform on a trip at $ 120,000, according to predictions.
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A CME gap at $ 116,500 is interesting as the next lower local level.
Bitcoin (BTC) approached $ 119,000 in the “decisive” weekly fence on Sunday while traders expected a strong week.
Bitcoin traders hen for a short giant pressure
Cointelegraph Markets Pro and TradingView data showed that BTC / USD reaching $ 118,760 on Bitstamp, marking the new vertices of August.
The “out-of-hour” weekend exchanges have seen increased liquidations, with the total cryptography 24 hours a day to 350 million dollars, according to data from Resource Coinglass surveillance.
Commenting on market structure, crypto forecasts have favored additional progress in the new week.
“BTC is at the dawn of a recovery of ~ $ 117,200 in its support,” wrote Rekt Capital, a merchant and popular analyst in his latest post X on the weekly graphic.
“Bitcoin is a few hours from a decisive weekly fence.”
The popular merchant Bitbull said that even if weekend price movements can generally reverse as the tradfi markets reopen, there was hope for new heights of all time.
“A single move up 10% will cause $ 18 billion + short liquidations and large money is probably looking at it,” he suggested on liquidity conditions.
“I guess Monday could be a little dropped with the BTC to delve its pump on weekends. After that, we could see a move over $ 120,000.”
A graphic that accompanies him compared BTC / USD now to the previous bull markets to support the escape thesis.
The merlijn merchant agreed with the target of $ 120,000 on the basis of a short potential pressure.
$ BTCThe next movement: $ 120,000
The largest liquidity pool in weeks is sitting just above us.
If you are short here … God helps you.
Short compression load. pic.twitter.com/vxmexkh3jj
– Merlin The Trader (@merlijntrader) August 10, 2025
BTC Price CME GAP at $ 116,500 on radar
Given the place where the next BTC price cash register could reverse, on the other hand, cryptographic investors and the entrepreneur TED pillows have suggested that pricing would continue to coincide with the “gaps” of the Bitcoin term market of the CME group.
In relation: Bitcoin Energy Value Metric says that the BTC price is up to $ 167,000
“There is a CME difference around $ 116.5,000, which will most likely be filled,” he partly summed up from a post X.
“This week, the BTC dropped $ 2,000 to fill CME Gap from last week. After that, Bitcoin could rally to a new ATH.”
Trader Daan Crypto Trades nevertheless described the weekend movements as “jerky” rather than trends.
“Most accents are on $ erasing its cycle peaks and its alts by making all kinds of movements,” he explained, referring to the largest Altcoin Ether (ETH), which has reached plurian peaks.
“I guess BTC resumes a little when he breaks $ 120,000 and gets closer to his own time.”
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.