CRITICAL ZONES FOR $BTC ! IT COULD CONTINUE UPWARDS!
When we look at the #Bitcoin heatmap, we see an interesting visual. Normally, we’d also see liquidation levels forming at the bottom; in particular, the lower regions have been much more active over the past month.
However, following yesterday’s drop below 80K, the lower end appears to have cleared out significantly. This is positive for us because the 85K and 87K levels are now on the table. These zones represent areas of extreme accumulation in terms of liquidation.
Since these are key zones both as support levels and as potential starting points for a new uptrend short sellers are defending these levels.
I think we’ve completed the short-term downward consolidation and could move a bit higher, but there’s one more factor to keep in mind: a potential decline in global markets particularly in Asia and the U.S. could have a direct impact.
DYOR!
When we look at the #Bitcoin heatmap, we see an interesting visual. Normally, we’d also see liquidation levels forming at the bottom; in particular, the lower regions have been much more active over the past month.
However, following yesterday’s drop below 80K, the lower end appears to have cleared out significantly. This is positive for us because the 85K and 87K levels are now on the table. These zones represent areas of extreme accumulation in terms of liquidation.
Since these are key zones both as support levels and as potential starting points for a new uptrend short sellers are defending these levels.
I think we’ve completed the short-term downward consolidation and could move a bit higher, but there’s one more factor to keep in mind: a potential decline in global markets particularly in Asia and the U.S. could have a direct impact.
DYOR!