Bitcoin Targets $121,000 Post-Liquidation Recovery: Analyst Predicts

Bitcoin and the crypto market faced a significant crash on Oct. 10-11, with liquidations totaling $19.35 billion. Two weeks later, Bitcoin is showing signs of recovery, potentially revisiting pre-crash price levels.

Analyst CrypNuevo predicts Bitcoin could target $121,000, influenced by liquidity pools formed after the market crash.
CrypNuevo has adjusted his strategy, taking profits from long positions and hedging against potential retracement with limit buy orders around $111,000-$112,000.
The trader suggests Bitcoin's upward trend might continue if short liquidations occur at $116k-$117k, pushing prices above $120k.
CrypNuevo's recent trading record shows 13 successful trades without losses in the past month, achieving a 103% profit.

This week started strong for Bitcoin and other cryptocurrencies, contributing to a positive market sentiment.

Investors shifted $400 million into Bitcoin, moving away from gold.
Michael Saylor's Strategy acquired 390 BTC for $43.4 million, bringing total holdings to 640,808 BTC.
American Corporation added 1,414 BTC, becoming the 26th largest corporate Bitcoin holder.
Ethereum broke through the $4,200 resistance zone, following Bitcoin's lead.