- Whale 0xab15 increased BTC long to 752 coins worth $86M, adjusting take-profit to $120K with $774K unrealized profit amid price recovery.
- Bitcoin bounced from the 1D50EMA support at $112,982, with buyers stepping in and price climbing back toward $115,000 resistance level.
- Liquidity and liquidation levels cluster near $116.2K to $120K, setting the stage for a potential short squeeze and upward breakout.
Bitcoin is attempting a recovery following a recent correction, as major players increase exposure. A whale’s aggressive long position highlights growing confidence in price continuation toward the $120,000 range.
Whale 0xab15 Raises Exposure with Aggressive Long Strategy
Whale address 0xab15 has taken a bold stance on Bitcoin, initiating a 40x leveraged long totaling 400 BTC, valued at $45.37 million. The whale placed a take-profit target at $125,000 while setting a liquidation threshold at $105,270, marking this as a high-risk position. The strategy suggests a strong conviction in a near-term price surge.
Lookonchain later reported an increase in the same whale’s position to 752 BTC, now worth $86 million. Alongside this adjustment, the whale lowered his take-profit level to $120,000, aligning with current liquidity levels and cluster zones identified in the market. The trade reveals a trade profit of $774,000 that is unrealized, which denotes early gains made on the recent bounce.
This ongoing accumulation is notable as it coincides with Bitcoin testing critical support levels. Whale 0xab15’s positioning suggests anticipation of a short-term rally, possibly driven by broader liquidity triggers and macroeconomic expectations.
Price Finds Support at 50-Day EMA During Healthy Correction
Bitcoin recently corrected from highs of about $118,000, encountering selling pressure as well as profit-taking. This action returned the asset to its 50-day Exponential Moving Average, a long-time solid support during trending markets.The correction occurred as part of a typical retracement in an otherwise bullish structure.
During this time, BTC reached the 50-day EMA at $112,982.77. Buyers came in at this level, stopping the decline further and confirming the EMA as an active support zone. This area also matched prior consolidation points, increasing its importance among market participants.
After the rebound, Bitcoin had regained its value to reach $114,934.79 as of writing. This step points to a more bullish attitude and to the fact that the correction might be nearing an end soon. Provided that momentum is still present and the $115,000 level is breached, attention will instead be drawn to the $118,000 resistance for continuation cues.
Liquidity Builds Above as Market Prepares for Breakout
CrypNuevo commented on current market conditions, noting that price action is unlikely to mimic January’s 20% correction. He emphasized that the 1D50EMA is acting as reliable support and any dip toward $110,000 is likely to hold. This zone has become a key area for market watchers.
Further observations from CrypNuevo revealed that major liquidation levels lie at $116,200 and $118,500, with clustered liquidity forming near $119,000–$120,000. These levels present a scenario ripe for a short squeeze should Bitcoin break higher, adding fuel to bullish momentum.
With interest rate cuts anticipated in September, macro conditions are adding to the positive sentiment. Whale positioning, technical support, and liquidity data suggest that BTC may soon retest its recent highs, provided support levels continue to hold and market activity remains bullish.
