I’m sharing an important piece of BTC market data.
Exactly 24 hours ago, market makers opened approximately $1.5 billion ($1.5B) worth of long positions on BTC in the $64,800–$64,900 range.
Over the past 24 hours, BTC has continued to be bought in the spot market, preventing the price from moving significantly lower and helping maintain the conditions needed for those long positions to remain profitable.
However, these positions have not yet started taking significant profits, because BTC has not moved high enough yet.
To close these positions and realize profits, a sufficient amount of liquidity is required. At the moment, a significant amount of that liquidity appears to be concentrated around the $66,000 area.
For this reason, I consider opening a large BTC short position high-risk at the current stage.
If BTC crosses $65,600, I believe shorts should only be considered gradually and according to the evolving market conditions rather than entering a large position immediately.
And if anyone chooses to open a short position right now, any visible profit should be secured quickly instead of keeping the position open for an extended period. 🍁
Trade & buy Bitcoin here: 👉 $BTC 🔰
Trade & buy ZEC here: 👉 $ZEC 🔰
#BTC #bullish
Exactly 24 hours ago, market makers opened approximately $1.5 billion ($1.5B) worth of long positions on BTC in the $64,800–$64,900 range.
Over the past 24 hours, BTC has continued to be bought in the spot market, preventing the price from moving significantly lower and helping maintain the conditions needed for those long positions to remain profitable.
However, these positions have not yet started taking significant profits, because BTC has not moved high enough yet.
To close these positions and realize profits, a sufficient amount of liquidity is required. At the moment, a significant amount of that liquidity appears to be concentrated around the $66,000 area.
For this reason, I consider opening a large BTC short position high-risk at the current stage.
If BTC crosses $65,600, I believe shorts should only be considered gradually and according to the evolving market conditions rather than entering a large position immediately.
And if anyone chooses to open a short position right now, any visible profit should be secured quickly instead of keeping the position open for an extended period. 🍁
Trade & buy Bitcoin here: 👉 $BTC 🔰
Trade & buy ZEC here: 👉 $ZEC 🔰
#BTC #bullish