Source: Cointelegraph/TradingViewFibonacci levels spotlight crucial bull market battleCurrent local highs for BTC/USD have breached the $104,000 mark, and zooming out, Fibonacci retracement analysis reveals that price is now in a key zone.“$BTC is at the last technical level to clear before new ATHs,” commentator Patric H.announced in an X post. “Bitcoin has already decisively cleared the 1.618 FIB and is now trading at the volume-area high (VAH) + a weak resistance trendline.”BTC/USDT 1-day chart with Fibonacci levels.Source: Patric H./XAn accompanying chart offered important Fibonacci levels as measured from Bitcoin’s local lows around $75,000.
Source: CoinGlass“There’s much less short liquidity clustered above,” trader TheKingfisher confirmed on X. “This notable imbalance makes the downside liquidation zone a potential key area to watch for volatility or price attraction.”Bitcoin exchange order book liquidity data.
The pace of the BTC price gains has come as a surprise for many, but longer-term perspectives show where the most difficult battleground lies.“Since this current impulse was primarily headline driven again this puts markets into a crucial & critical trading day,” trader Skew said about the impetus for the move in an X post on May 8.
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Author / Journalist: Cointelegraph by William Suberg
The story "Bitcoin eyes sub-$100K liquidity — Watch these BTC price levels next" has 543 words across 19 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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