Bitcoin
$BTC
The market got hammered last night! Bitcoin dropped from $76,100 to $73,600, wiping out a billion dollars’ worth of trading positions in just a few hours! Over the past week, more than $4.2 billion was liquidated from the crypto market! So, where might Bitcoin go from here?
The $71,000–$73,500 area has strong liquidity, and the price could drop to sweep it. But pay attention to the most important point! The $75,000–$78,500 area has much larger liquidation clusters, making a visit to that area more likely than a move to the lower one.
In short, despite the sharp drop, there’s more liquidity above, and we could see a strong upward move toward it. Keep an eye on the liquidity zones, and don’t rush into a trade.
$BTC
The market got hammered last night! Bitcoin dropped from $76,100 to $73,600, wiping out a billion dollars’ worth of trading positions in just a few hours! Over the past week, more than $4.2 billion was liquidated from the crypto market! So, where might Bitcoin go from here?
The $71,000–$73,500 area has strong liquidity, and the price could drop to sweep it. But pay attention to the most important point! The $75,000–$78,500 area has much larger liquidation clusters, making a visit to that area more likely than a move to the lower one.
In short, despite the sharp drop, there’s more liquidity above, and we could see a strong upward move toward it. Keep an eye on the liquidity zones, and don’t rush into a trade.
