BTC bulls helped stage a fast restoration on August 7, 2025, reclaiming the 117k degree after a short downward stint under the Bollinger Band help, in what analysts are calling a textbook “head faux” 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 keeping with the BTC heatmap information, liquidity clusters between $117.5k and 118k recommend that there could be a possible grind larger as merchants proceed to liquidate brief positions.
Additional to this, the every day CME futures hole has been stuffed, establishing a brand new help close to $114k. Within the background, there’s a divergence forming between spot worth motion and ETF flows. Bollinger has flagged the setup as a attainable lure for overzealous bears.
In response to 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 reveals main lengthy cluster at ~116000 (left) and brief cluster at ~118000 (proper). These act as worth 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 large 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 strain and a descending trendline that traces again to its November 2021 all-time excessive.
A breakout above the $4100 mark might lead to one other bullish run and will doubtlessly see ETH surge in 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 under this degree might set off a drop in 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 purple 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 opportunity of a short-term cooldown should not be dominated out.
$ETH: Seems to be actually good right here, it reached the very best worth since December 2021. It is a breakout by 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 be aware, ETH has gained greater than 180% since hitting its current low of $1385 in April and has rallied by greater than 60% over the previous month. A robust shopping for strain from company entities pivoting in direction of ETH treasury has fuelled this current 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 property doesn’t breach securities legislation.
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The put up [LIVE] BTC Breaks Above 117k, Eyes 119k Subsequent, ETH Breaks $4000 Mark: Greatest Crypto To Purchase Now appeared first on 99Bitcoins.
