Bitcoin price compression will spark expansion: Will BTC explode toward $120K?
Bitcoin's current price compression between $107,000 and $112,000 suggests an imminent, volatile expansion, potentially toward $120,000.Summary
Bitcoin (BTC) has been trading in a tight range, with sellers capping prices at $112,000 and buyers defending the $107,000 to $108,000 zone. This range compression, characterized by lower highs and higher lows on the 4-hour chart, is technically viewed as a precursor to a volatile expansion following the October 10th sell-off. Underlying positive indicators include significant spot Bitcoin ETF inflows ($477 million on Tuesday) and consistent buying across all order-size cohorts on major exchanges. Furthermore, Glassnode's Bitcoin Accumulation Trend Score is high at 0.924, indicating that large entities are accumulating rather than distributing. Analysts suggest this consolidation could end early next week, potentially driven by upcoming US macroeconomic events, which may resolve current fear catalysts and allow BTC to target the $120,000 price zone.
(Source：Cointelegraph)