Bitcoin’s Wild Ride: $88B Bet or Bust? 🚀💸

Key points (or should we say, golden nuggets?): 🌟

Bitcoin dances around $120,000 like a circus bear on a unicycle, while traders throw liquidity around like confetti at a clown convention. 🎪💰
Bulls are supposedly “addressing the imbalance” – which sounds like they’re fixing a wonky seesaw, but with more zeros. ⚖️🤹‍♂️
Long-term bearish divergences are lurking like a grumpy troll under the bridge, casting doubt on Bitcoin’s sunny bull market. 🌥️👹

Bitcoin (BTC) clung to $120,000 like a child to a lollipop at Friday’s Wall Street open, as analysts sharpened their pencils for a short squeeze that could make a balloon pop look tame. 🎈💥

Trader eyes $123,000 BTC liquidity (or, “Where’s the money, Lebowski?”)

Data from CryptoMoon Markets Pro and TradingView showed BTC’s volatility cooling faster than a forgotten cup of tea. ☕❄️

BTC/USD hit new local highs, with $121,100 as the next mountain to climb – or stumble down. ⛰️🤕

CrypNuevo, the trader with a name like a forgotten password, pointed to overhead ask liquidity as the next target. “Liquidations at $120k have been hit,” he chirped, as if announcing a bingo win. 🎱💸

“Now we’re in this Liquidity Pool (LP) which represents an imbalance in the chart and needs to be fully retraced ($123.2k). Because, you know, charts love a good swim. 🏊‍♂️📈”

CoinGlass data showed bids piling up around $118,500 – a safety net for when the market decides to do a backflip. 🕸️🤸‍♂️

BitBull, the trader with a name that sounds like a superhero’s sidekick, predicted a “leverage flush” in the next 1-2 weeks. Because nothing says fun like a financial enema. 🚿💹

“This’ll force people to sell their coins as they think Uptober is over. After that, Bitcoin and alts will rally again and hit new highs. Because, you know, the market loves a good drama. 🎭📈”

CoinGlass data revealed total futures OI at a record $88.7 billion – because why not bet the farm when the stakes are this high? 🏦🎲

Bearish divergences cause concern (or, “The sky is falling!”)

Trader Roman, presumably named after a romantic novel, spotted bearish RSI divergences on daily and weekly charts. Because nothing says “doom” like a technical indicator throwing a tantrum. 📉😡

A bearish divergence is when RSI hits lower highs while price hits higher highs – basically, the market’s version of a midlife crisis. 🏔️🤦‍♂️

“I wonder how long $BTC can ignore these bear divergences and lack of momentum,” Roman pondered, probably while stroking a imaginary beard. “It’s only a matter of time before they play out. Be careful holding here.” Because, you know, the market’s a fickle beast. 🐻⚠️

“Volume is also telling us there’s a lack of strength. It’s like trying to inflate a balloon with a straw. 🪼💨”

As CryptoMoon reported, the four-hour RSI is still in “overbought” territory, suggesting a price cool-down is as likely as a snowball in hell. ❄️🔥

2025-10-03 17:50

Trader eyes $123,000 BTC liquidity (or, “Where’s the money, Lebowski?”)

Bearish divergences cause concern (or, “The sky is falling!”)

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