TL;DR

Short positions pile up near $112.6K, setting the stage for a sharp upside liquidation squeeze. Bitcoin fails twice at $113K resistance, making the next breakout attempt critical for direction. Sentiment rises on Binance, but warning signs emerge near $115K as longs dominate the market.

Short Liquidation Cluster Builds Above Current Price

Bitcoin is trading around $113,500 at press time, after gaining over a grand in the past hour or so. A recent liquidation map shared by TheKingfisher shows a heavy concentration of short positions just above the current price. The largest cluster appears near $112,630, indicating an upcoming short squeeze since the cryptocurrency has moved past that level.

$BTC: This liquidation map shows a clear setup. Most of the action is above current price, meaning *short liquidations* are stacked.

Look at 112,631.54. Thats a huge cluster for shorts to get flushed. Were looking at an optical opti timeframe here, so this plays out over a… pic.twitter.com/CpuEUacDF0

Notably, this type of setup can lead to a fast move upward, as short positions may get closed automatically once the price hits those levels. According to TheKingfisher, “smart money will be watching this level,” referring to traders who track liquidity zones for entry and exit opportunities. If this short cluster is triggered, the momentum could push Bitcoin above the current range.

The map is based on short-term price behavior and may play out within the next few trading sessions.

Resistance Near $113K Holds Firm

Bitcoin has tested the $113,000 level three times (including now) in the last seven days but failed to break through. This price area has seen intense selling pressure, with traders either taking profit or opening fresh short positions. The rejection confirms that $113K–$113.5K is a key barrier for now.

Analyst Michaël van de Poppe commented,

Is today the day that were finally going to be cracking the resistance on $BTC? pic.twitter.com/JHMSAyWXlk

The market continues to hover just below this level, awaiting a clear breakout or breakdown.

If the asset fails again, attention may shift to the area below $110,000. That zone has previously acted as support and holds stop-loss orders, which could be targeted if sellers take control.

Long-Term Structure Supports Uptrend

Merlijn The Trader posted a weekly Bitcoin chart showing an inverse head and shoulders pattern. The larger structure includes a left shoulder from 2021, a head near $15,500 in late 2022, and a developing right shoulder through 2024. A smaller pattern has also formed inside the right shoulder.

Bitcoin broke the neckline around $71,000 and has since formed higher lows. If the structure is maintained, the target area lies between $130,000 and $150,000. Merlijn called it the “supercycle ignition” as it could be the start of a long-term rally if the price continues climbing.

Sentiment Shift on Binance Ahead of $115K Zone

Analyst BorisD noted rising positive sentiment on Binance since September 6. During this period, more long positions have been opened. While the current tone is bullish, there’s caution around the $115,000 level. BorisD explained that a “free trading zone” exists up to that point, but warned that once cleared, the price could snap back quickly.

Source: CryptoQuant/BorisD They added that if buying momentum fades while sentiment remains positive, it could expose the market to a correction. Binance remains a key exchange due to its high trading volume and a mix of retail and large participants.