{"id":96194,"date":"2025-09-12T19:16:04","date_gmt":"2025-09-12T19:16:04","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=96194"},"modified":"2025-09-12T19:16:04","modified_gmt":"2025-09-12T19:16:04","slug":"bitcoin-eyes-120k-if-weekly-close-holds-above-114k","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=96194","title":{"rendered":"Bitcoin Eyes $120K if Weekly Close Holds Above $114K"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Bitcoin rebounds from $107K low, testing $114K as bulls eye a breakout toward $120K.
\nLiquidations near $115K fueled sharp upward momentum, clearing resistance and boosting short-term bullish outlook.
\nShort-term holders realize losses, but institutional demand suggests the broader trend remains strongly bullish.<\/p>\n

Bitcoin Tests $114K Level Again<\/h2>\n

Bitcoin has recovered in the past week or so after reaching a low near $107,000 earlier this month. That zone marked the end of its measured move, and the price has since pushed back above $114,000, trading close to $115,000.<\/p>\n

Analyst Rekt Capital said<\/a>,<\/p>\n

\u201cBitcoin is now in contention for a reclaim of the $114k (black) level back into support. Weekly Close above $114k would trigger bullish bias and resynchronisation with the $114k\u2013$120k Range.\u201d<\/p>\n

The $114,000 level has acted as resistance in recent weeks. Holding above it on the weekly close would open the way toward the $114,000\u2013$120,000 range.<\/p>\n

<\/a>Source: Rekt Capital\/X<\/p>\n

Rekt Capital noted<\/a> that Bitcoin \u201cneeds to stay above ~$114k as it heads into the new Weekly Close\u201d and should build a cluster around this level, similar to early August.<\/p>\n

Trader Ted pointed to $117,200 as the next resistance and wrote<\/a>,<\/p>\n

\u201c$117,200 is the next important level for Bitcoin and it also has a CME gap. If BTC fully reclaims this level, the doors towards the new ATH will open.\u201d<\/p>\n

If the move fails, Bitcoin could revisit recent monthly lows.<\/p>\n

Liquidations Drive Short-Term Spike<\/h2>\n

Glassnode data shows that a wave of short liquidations near $115,000 pushed the latest surge. The liquidations were triggered across exchanges between 9\u201310 p.m. UTC and matched signals from its Hyperliquid heatmap.<\/p>\n

High short liquidations clustered around $115k were triggered last night, accelerating $BTC<\/a> upward spike. The move was confirmed across exchanges around 9\u201310pm UTC, aligning with our new Hyperliquid heatmap signals. pic.twitter.com\/l9z8RS7ECM<\/a><\/p>\n

\u2014 glassnode (@glassnode) September 12, 2025<\/a><\/p>\n\n

The cascade of liquidations added momentum, helping Bitcoin clear overhead resistance levels and driving volatility higher as the week developed.<\/p>\n

Short-Term Holders Realizing Losses<\/h2>\n

Data from CryptoQuant shows that short-term holders are realizing losses again after four months of steady gains. Analyst G a a h said<\/a>,<\/p>\n

\u201cThis change is significant, as it indicates a momentary loss of confidence on the part of speculators.\u201d<\/p>\n

<\/a>Source: G a a h\/CyptoQuant<\/p>\n

The Spent Output Profit Ratio (SOPR) for short-term holders has dropped below 1. In previous cycles, market peaks formed when short-term holders booked heavy profits, often during periods of extreme greed. This time, those conditions have not appeared, suggesting the rally has been sustained by larger investors.<\/p>\n

If Bitcoin holds $114,000 into the weekly close, analysts see scope for continuation toward $120,000 in the near term.<\/p>\n

The post Bitcoin Eyes $120K if Weekly Close Holds Above $114K<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Bitcoin rebounds from $107K low, testing $114K as bulls eye a breakout toward $120K. Liquidations near $115K fueled sharp upward momentum, clearing resistance and boosting short-term bullish outlook. Short-term holders realize losses, but institutional demand suggests the broader trend remains strongly bullish. Bitcoin Tests $114K Level Again Bitcoin has recovered in the past week […]<\/p>\n","protected":false},"author":0,"featured_media":96195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-96194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/96194"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=96194"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/96194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/96195"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=96194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=96194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=96194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}