Bitcoin Charts: Three to Keep an Eye on After $5.39B in BTC Transactions

Takeaways:

• Bitcoin’s overall uptrend, and data on-chain suggest that the market is in an expanding phase.

• Strong dip-buying by “sharks,” Key trendlines support another BTC rally.

BitcoinBTC() tried to recover one day after the traders had witnessed the biggest single-day wipeout The largest leveraged position liquidation ever recorded, at $5.39 Billion, is more than twice the size of any previous 24-hour period. “COVID-19 crash” The year 2020 is a new decade.

BTC price has recovered by 8.50% since Saturday after hitting its low local of around $103,000. It is currently down 11% compared to its previous record of $126.300.

Bitcoin’s recovery can it be extended further? The three charts below indicate that the technical environment is favorable for an upcoming rally.

Bitcoins continue to rise despite $5.39 Billion wipeout

Bitcoin’s recent correction might look drastic on smaller timeframes. But zooming out, it is actually less dramatic than previous pullbacks.

On the weekly chart, BTC has dropped less than 10% so far, notably less than the 14–15% dips seen in March 2025 and July 2024, both of which were followed by strong rebounds.

Bitcoin’s price is still well inside its ascending channel. This bullish structure has been guiding its upward trend since the middle of 2023.

Each time BTC tested the lower limit of the channel, buyers stepped in and sparked new rallies towards the upper range.

According to analysts, the key level is now near the 20-week MA (moving average) of $111,000 Michaël van de Poppe.

Bitcoin trading above its 20-week MA could signal a capitulation stage similar to what happened in 2008. COVID-19 crash You can also read about the FTX bottom.

The next BTC trend would begin then, with the aforementioned upcoming uptrend. $140,000-150,000 target for year’s end.

BTC Sharks Buy the Dip

While smaller holders were forced to leave the market during Friday’s $5.39 billion liquidation, middle-sized traders, or what is known as “sharks,” Buy the dip aggressively

Shark Net Position Change has reached its highest levels since September 2012 at 190 296. Glassnode data.

The Bitcoin supply owned by this cohort has also grown at an exponential rate in 2025. It reached a record high last Friday, despite the drop in price. The more experienced investors may be less worried.

Related: Bitcoin slump may rebound up to 21% in 7 days if history repeats: Economist

This trend of large entities buying Bitcoin could be the foundation for Bitcoin’s future big recoveries if it continues.

Bitcoin Bollinger Bands still “squeezing”

According to chartists, Bitcoin’s correction on Friday could have been a cooling down in the middle of its cycle rather than a sign that a bear market is about to begin. The Great Mattsby.

Each previous Bitcoin bull run has ended after the monthly Bollinger BandsAs shown on the graph below, has fully expanded.

When market movements increase, these bands expand and shrink.

Bitcoin has peaked in past bull cycles (2013, 2018, 2021) when these monthly bands have been stretched out, indicating a volatile market.

These bands, though, are currently still decreasing. “squeezing,” If history is any guide, this may be the precursor to further price increases.

Mattsby, The Great said

History shows that bear markets don’t start while the Bollinger Bands monthly are still squeezed. It starts at the very end of its expansion.

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making any kind of a trading or investing decisions.