Expert Warns of Volatility Near Key Levels

Bitcoin, the world’s largest cryptocurrency, has been trading between $93,000 and $100,000 for nearly three weeks, struggling to break out in either direction. Crypto analyst CrypNuevo has shared his latest insights, pointing to key price levels that could determine Bitcoin’s next move.

With important U.S. events coming up, Bitcoin’s volatility could soon increase.

Bitcoin Range and Liquidation Insights

Bitcoin’s sideways movement has made it difficult for traders to predict where it will go next. CrypNuevo notes that last week’s price bounce from $93,300 to $99,000 was driven by liquidation data.

This happened because the data showed where traders had placed their stop-losses and forced sell-offs, allowing smart traders to take advantage of these price swings.

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No Clear Direction Yet: What’s Next?

Right now, the market looks different. Liquidations are spread evenly on both sides, meaning Bitcoin could move up or down without a clear trend.

CrypNuevo highlights two key support levels traders should watch:

• $94,700 – $95,000: This zone has strong liquidity, meaning many traders have set stop-loss and buy orders here, making it a potential bounce area.
• $92,500: If Bitcoin fails to hold the first support zone, the next key level is $92,500, where more liquidations could trigger price action.

However, CrypNuevo warns that while this level is important, it’s unclear how many high-timeframe liquidations are still active. Because of this, he prefers to use short-term liquidation data for trading decisions.

Bitcoin’s Next Move

With no major economic events dominating headlines this week, traders are focusing on these key support levels to gauge Bitcoin’s next move.

As of now, Bitcoin is trading around $95,800, showing a slight dip, with its market cap standing at approximately $1.89 trillion.

History shows that long periods of consolidation often lead to explosive moves – Bitcoin may be gearing up for something big.

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