Bitcoin nears $120,000... Experts say ”bigger price fluctuations coming soon”

As Bitcoin breaks through the $119,000 mark and successfully rebounds from a two-week correction, market analysts are predicting a bigger price rally could be on the way.
On the 27th (local time), Bitcoin attempted to break through the upper limit of the 10-day simple moving average (SMA), continuing its strong rebound from the previous day, and surpassed $119,000.
After a recent bounce around $114,500, the upward trend has gradually strengthened, and despite one of the largest selling pressures on record, the market is quick to forget about it.
The rally came in conjunction with the news that the US and China had agreed to further delay the imposition of mutual trade tariffs. Investors have been quick to point out that such news could boost risk assets.
Cryptocurrency investor Ted Pillows said, "If Bitcoin cannot break through $119,500 with force, it will remain in the current box range.
"The price could continue to adjust," he said, "and break through this resistance next month, potentially starting a new uptrend."
"Bitcoin has re-recovered a key support zone based on the daily closing price," said Yahoo! Capital, adding, "The re-entry into this area is a positive development. A downward correction has subsequently occurred."
"If the price rises, it could be an attempt to re-examine that support line," he said. But not all analysts are optimistic. Trader Kripnu
CrypNuevo noted that “the price range to watch in the short term on the decline is $113,800,” and that “large liquidation clusters are expected to occur in the $114,500-$113,600 zone.”
"There is a concentration of short positions," he said. This suggests a short selloff could occur again. Market data analysis firm CoinGlass said it is currently short-positioned.
The analysis puts the point where cryptocurrency holders are struggling the most at $119,650. As Bitcoin approaches its all-time high of $123,000, short positions of roughly $1.1 billion have strengthened.
Coinank also diagnosed that "liquidation orders are concentrated in the range of $119,000 to $120,000, forming a very strong resistance zone."
Finally, analyst TheKingfisher warned of the possibility of a sharp rise in short-term volatility for Bitcoin.
"The GEX+ chart is almost red," he said. "This means market makers are building up gamma short positions, further increasing volatility as a hedge."
"There is a possibility that significant price fluctuations will occur in the future. Now is the time to closely monitor even the most minute movements in the market," he added.