After printing a weekly high of $106,407, Bitcoin now needs only a monthly close above $102,400 to log its strongest May since 2019.
Trader Jelle argues that breaching $110,000 would flip BTC into price-discovery, a zone where historical patterns show rapid, successive highs.
Liquidation ‘magnet’ identified
More than $3 billion in short positions lie vulnerable above $107,000, according to CoinGlass data.
Technical analyst Gert van Lagen likened the level to a “liquidation magnet,” stating, “A liquidation magnet is glowing above $107K, ready to vaporize billions in shorts.”
Compression signals breakout energy
Researcher Axel Adler Jr. highlighted the third major compression phase of Bitcoin’s cycle—tight price ranges historically foreshadow violent moves.
Bollinger Bands are already widening, hinting that volatility is coiling for a decisive push.
Macro context favors bulls
A looming golden cross on the daily chart aligns with halving-driven supply constraints and steady institutional inflows, strengthening the case for a move past six figures.
Should buyers succeed, analysts expect cascading liquidations to propel BTC well above $110,000 before equilibrium is restored.