That liquidation pool above $BTC is an absurdly bright shade of yellow.
Looking at the liquidation heatmap, $BTC is still hovering around $83,000, but a very prominent liquidation band has formed between $84,500 and $84,800.
There’s liquidity below too, concentrated mainly around $82,000, as well as in the deeper $80,500–$81,000 range.
Personally, I’m leaning toward an upward sweep first. A large number of potential short liquidations are clustered around $84,700, and if the price breaks through, forced liquidations could add fuel to the rally.
But if it spikes and then falls back below $83,000, watch out for the longs around $82,000.
In short: Hold above $84,800 and look for a further short squeeze; drop below $82,000 and watch $80,500–$81,000.
So, are we going long or short? What do you think, Yuan Fang?
#BTC #LiquidationHeatmap
Looking at the liquidation heatmap, $BTC is still hovering around $83,000, but a very prominent liquidation band has formed between $84,500 and $84,800.
There’s liquidity below too, concentrated mainly around $82,000, as well as in the deeper $80,500–$81,000 range.
Personally, I’m leaning toward an upward sweep first. A large number of potential short liquidations are clustered around $84,700, and if the price breaks through, forced liquidations could add fuel to the rally.
But if it spikes and then falls back below $83,000, watch out for the longs around $82,000.
In short: Hold above $84,800 and look for a further short squeeze; drop below $82,000 and watch $80,500–$81,000.
So, are we going long or short? What do you think, Yuan Fang?
#BTC #LiquidationHeatmap