Bitcoin is nearing an important liquidity zone as traders continue to use leverage, shaping short-term price action.
Recent heatmap liquidation data shows large clusters of liquidations on both sides of the market, forcing traders to watch whether BTC will rise higher to trigger waves of short liquidations or fall to reduce long positions using leverage.
The immediate upside price area is around $64,600, where liquidity is concentrated and could attract Bitcoin if the upward momentum continues. A move up to the $65,500–$66,000 range could then reveal a large amount of short positions.
If the price breaks through the $64,600 level sustainably, it could open the way to $65,500–$66,000, especially if short liquidations accelerate the rally. Conversely, if it cannot reach this level, BTC may trade in a range from $63,200 to $66,200.
On the other hand, losing $63,700, followed by $63,200, could expose a lower liquidation cluster around $62,000–$62,500.
$BTC
#Write2Earn
#Write2Earn!
Recent heatmap liquidation data shows large clusters of liquidations on both sides of the market, forcing traders to watch whether BTC will rise higher to trigger waves of short liquidations or fall to reduce long positions using leverage.
The immediate upside price area is around $64,600, where liquidity is concentrated and could attract Bitcoin if the upward momentum continues. A move up to the $65,500–$66,000 range could then reveal a large amount of short positions.
If the price breaks through the $64,600 level sustainably, it could open the way to $65,500–$66,000, especially if short liquidations accelerate the rally. Conversely, if it cannot reach this level, BTC may trade in a range from $63,200 to $66,200.
On the other hand, losing $63,700, followed by $63,200, could expose a lower liquidation cluster around $62,000–$62,500.
$BTC
#Write2Earn
#Write2Earn!