Bitcoin’s Wild Ride: Will It Vaporize Shorts or Just Fizzle Out? 🚀💸

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Key takeaways:

  • So, if Bitcoin manages to close above $102,400 by the end of the month, it will set a record for the highest monthly close ever. Who knew digital coins could be so dramatic? 📈

  • And let’s not forget, over $3 billion in Bitcoin short positions are hanging by a thread above $107,000. It’s like a financial game of Jenga, and one wrong move could send BTC soaring! 🎢

Bitcoin (BTC) is just 11 days away from possibly setting its highest monthly candle close in history. After a record weekly close of $106,407 on May 18, it’s all eyes on that $102,400 mark this month. Talk about pressure! 😅

According to crypto trader Jelle, Bitcoin is practically on the edge of a ‘price discovery’ period. Sounds fancy, doesn’t it? Price discovery is just a posh way of saying buyers and sellers are trying to figure out what the heck this digital asset is worth. 🤔

If Bitcoin breaks above its all-time high of $110,000, we’re in for a wild ride into uncharted territory. It’s like setting sail without a map—exciting and terrifying all at once! 🏴‍☠️

CryptoMoon has reported that Bitcoin is on the verge of confirming a “golden cross” on its daily chart. Historically, this has led to price rallies of 45% to 60%. So, if you’re holding BTC, now might be a good time to start practicing your victory dance! 💃

A monthly close near $110,000 would mean a 15% to 17% gain for Bitcoin in May, making it the strongest May performance since 2019. That’s like winning the lottery, but without the ticket! 🎉

Bitcoin would vaporize ‘shorts’ above $107,000

Bitcoin researcher Axel Adler Jr. has spotted a key technical pattern in Bitcoin’s current bull cycle. He’s noted three recent instances of “compression”—which is just a fancy term for a tightening price range. It’s like Bitcoin is holding its breath before a big leap! 😮

The chart suggests that this compression often signals an impending breakout. Remember 2017? When Bitcoin went from $1,000 to $20,000? Yeah, that was a fun ride! 🎢

Using Bollinger Bands alongside the price range indicates that volatility is brewing. The third compression phase in 2025 is eerily similar to the 2017 cycle, where Bitcoin halving events and supply shocks sent retail investors into a frenzy. FOMO, anyone? 😱

From the liquidation perspective, over $3 billion in short leveraged positions are at risk if BTC price moves to $110,000 from $105,000. Meanwhile, it would take a drop to $94,612 to trigger a similar amount in long liquidations. So, it seems the odds are in favor of an upward push! 🎯

Technical analyst Gert van Lagen has a similar outlook, stating,

“A liquidation magnet is glowing above $107K, ready to vaporize billions in shorts. First, BTC soared on fear. Next, it’ll rise on liquidations.”

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2025-05-20 21:25