BTC bulls helped stage a fast restoration on August 7, 2025, reclaiming the 117k degree after a quick downward stint beneath the Bollinger Band help, in what analysts are calling a textbook “head pretend” reversal, reigniting bullish sentiments as the perfect crypto to purchase now.
Now that bullish sentiments have reignited, merchants are eyeing the 119k mark as the following main resistance zone. Furthermore, in line with the BTC heatmap information, liquidity clusters between $117.5k and 118k recommend that there is likely to be a possible grind larger as merchants proceed to liquidate quick positions.
Additional to this, the every day CME futures hole has been crammed, establishing a brand new help close to $114k. Within the background, there’s a divergence forming between spot value motion and ETF flows. Bollinger has flagged the setup as a potential entice for overzealous bears.
In line with CoinGlass’s heatmap information, the BTC is encountering mounting resistance within the rising liquidation clusters between 117.5k and 118k. On the flipside, draw back bids are accumulating round 114k, a degree strengthened by the completion of the CME futures hole.
(CoinGlass Heatmap Information)
This degree has traditionally served as a key level of convergence for spot costs, enhancing its credibility as a help base.
$BTC liquidation map exhibits main lengthy cluster at ~116000 (left) and quick cluster at ~118000 (proper). These act as value magnets, potential volatility drivers. Config: optical_opti. pic.twitter.com/iJDczuolzG
— TheKingfisher (@kingfisher_btc) August 9, 2025
Analysts recommend that if the BTC can push previous the 119k mark, $120k turns into the following huge goal each psychologically and technically.
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Ethereum Eyes $4500! Is It The Greatest Crypto To Purchase Now?
During the last 24 hours, ETH noticed $229.49 million in futures liquidation, with CoinGlass’s information displaying $22.24 million wiped away from longs and $207.25 million from shorts. ETH bounced off help close to $3,470 final week and has since then surged 15% reclaiming the $4000 mark for the primary time since December 2024.
As of this second, ETH is going through resistance on the $4100 degree, marked by historic promoting stress and a descending trendline that traces again to its November 2021 all-time excessive.
A breakout above the $4100 mark may end in one other bullish run and will probably see ETH surge in the direction of the $4500 mark, a key resistance zone earlier than retesting its all-time excessive of $4,868.
In the meantime, it should defend its $3470 help to protect this bullish momentum. A weekly shut beneath this degree may set off a drop in the direction of $3220, and if that fails, the $3000 psychological help zone would possibly come into play.
Momentum indicators, such because the RSI indicator, are flashing crimson because the ETH nears the overbought territory, whereas the Stochastic Oscillator has remained overbought since June. Whereas alerts presently point out a bullish momentum, the potential of a short-term cooldown should not be dominated out.
$ETH: Appears to be like actually good right here, it reached the best value since December 2021. It is a breakout via a multi-year resistance. Might soar to 5k after which re-test 4k as help. https://t.co/KdV98aYjvM pic.twitter.com/1qDPl7YaID
— Christian Ott (@ChrisOtt) August 9, 2025
On a brighter observe, ETH has gained greater than 180% since hitting its latest low of $1385 in April and has rallied by greater than 60% over the previous month. A robust shopping for stress from company entities pivoting in the direction of ETH treasury has fuelled this latest efficiency.
Furthermore, it obtained a regulatory increase from the SEC (Securities and Change Fee) on 5 August 2025 after the regulatory physique clarified that liquid staking of crypto belongings doesn’t breach securities legislation.
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The submit [LIVE] BTC Breaks Above 117k, Eyes 119k Subsequent, ETH Breaks $4000 Mark: Greatest Crypto To Purchase Now appeared first on 99Bitcoins.
