- Bitcoin liquidations reach levels not seen since the beginning of Q4 2023.
- Despite this, analysts remains bullish marking many pump indicators for BTC price.
- Bitcoin prepares to hit new ATH targets between $200,000 to $340,000.
The price of Bitcoin (BTC) hovers in the $84,000 price range, maintaining a steady position despite the fact that Bitcoin liquidations have reached levels not seen since the beginning of Q4 2023. Remarkably, most seasoned analysts remain bullish and set a much higher ATH target of $340,000 for BTC to hit in the coming days ahead.
Bitcoin Liquidations Reach Concerning Levels
As we can see from the post above, the post observes that BTC investors keep trying to long Bitcoin on every dip only to keep getting liquidated. This unfortunate scenario draws us back to a time much earlier at the start of the ongoing bull run, meaning that Bitcoin liquidations have reached levels not seen since after September 2023.
The post also mentions that this pattern is also occurring during the previous correction between September and November 2023. Thus, as volatility has increased significantly over the last few weeks, the crypto market is correcting and wiping out overleveraged investors trying to fight the trend. The unfortunate liquidations may seem like a bearish move but the bulls continue to hold the line, showing a possible bullish recovery.
Overall, the post cautions traders to be careful with leverage. However, on a positive note, the post concludes that the market tends to rebound once the derivatives cleanup is finished properly. This point of view supports the expectations that many seasoned analysts have for Bitcoin (BTC) and the broader crypto market, that a recovery and greater ATH prices are just on the horizon.
Which ATH Targets Will BTC Hit Next?
In line with expecting a massive recovery and higher highs for Bitcoin (BTC), the trader in the post above finds an indicator that supports Bitcoin’s upcoming rally. In detail, he marks a head & shoulders formation on the BTC price chart and says that the pattern’s successful completion should lead to a price propulsion. He confirms that the BTC retest is holding and that all signs now point to one thing which is an explosive rally to a new ATH target set at $340,000.
Similarly, another reputed analyst explains his expectations for Bitcoin (BTC) price in the coming months. To highlight, he marks the next move to be the leg up to levels above $150,000. Following this, he expects a sideways pump from $150,000 to $180,000 until BTC pumps up to grab liquidity above $200,000. He calls a bear market to start once BTC bottoms between $76,000 and $90,000.
