Bitcoin’s Wild Ride: Will It Break Free from the $100K Curse? 🚀💰

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Ah, Bitcoin (BTC), that capricious creature of the digital realm, testing the patience of traders as a new week dawns. Can anything, I ask you, unstick BTC/USD from its stubborn sub-$100,000 range? The suspense is palpable! 🎭

  • BTC price inertia is making market participants as nervous as a cat in a room full of rocking chairs, with all eyes on a potential short squeeze. 🐱

  • Fed minutes are on the horizon, and markets are in no mood to bet on the US inflation picture improving anytime soon. Spoiler alert: it won’t! 📉

  • Exchange flows are waving a red flag, warning of a “bearish phase” for BTC price action, which is only just beginning. Buckle up! 🎢

  • Despite the bull market taking a month-long siesta, BTC demand continues to paint a rosy picture of investor confidence. Who knew bears could be so optimistic? 🐻

  • Unrealized profits are increasingly supporting the notion that a Bitcoin bull market top is not so far away. Or is it just a mirage? 🌅

Liquidity Boosts “Short Squeeze” Hopes

In this stubborn trading range, Bitcoin traders are demanding more before they dare to bet on a trend in either direction this week. It’s like waiting for a bus that never comes! 🚌

Since its latest all-time highs in mid-January, BTC/USD has been languishing in the middle of its three-month trading corridor, failing to seal $100,000 as definitive support. Data from CryptoMoon Markets Pro and TradingView confirms this tragic tale. 📊

As time drags on, doubts about the range floor at $90,000 holding are growing like weeds in a neglected garden. 🌱

“If we dip lower to the range lows ($91k), I think it would be more likely to go lower around $88k. So I’d be careful longing the range lows blindly,” popular trader CrypNuevo mused in a thread on X on Feb. 16. Wise words, indeed! 🧐

“I guess many traders have set their long limit orders with stop-loss (SL) right below it, so it’s possible to see a deviation.”

CrypNuevo, with the wisdom of a seasoned oracle, used exchange liquidation data from Hyblock Capital to identify two key potential short-term price magnets going forward. 🔮

“Since we’re at the discount area of the range, very close to the range lows, I’m looking for longs,” he told his eager followers. 📈

“I do think that the upside liquidations will likely get hit fairly soon ($99.2k) but would love to re-enter at the lower liquidations ($93.3k) first.”

Fellow trader TheKingfisher, a specialist in liquidation analysis, argued that a short squeeze was the most likely next event on short timeframes, with Bitcoin dipping below $96,000 after the weekly open. The drama unfolds! 🎭

“$BTC liquidity is currently piled up on the above within this consolidation,” Mikybull Crypto agreed while examining separate liquidation data from monitoring resource CoinGlass. 📊

Meanwhile, popular trader CJ has set his sights on $102,000 as a near-term BTC price ceiling. A lofty ambition, indeed! 🎯

“With the weekly draw at 102.5k, we have above it an imbalance and fresh supply zone so we could wick up to 105k. Therefore, 102.5k – 105k is my

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2025-02-17 11:39