$BTC is back at 74k 👇
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CryptoZeno
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The #liquidation heatmap currently shows a large liquidation cluster sitting between 66k and 73k.
We are at 78k dollars, and if $BTC drops just 4k down to 73k, the domino effect will begin.
Everyone who bought the dip at 80k, 75k, 70k using leverage will start getting forcibly closed.
That forced selling pushes the price lower. This leads to more liquidations. That, in turn, pushes the price even lower.
The 66k-73k zone is where all the long term buyers are positioned. Billions of dollars in positions have survived the drawdown so far.
Possible scenarios:
Sweep the lows. Drop to 73k. Trigger liquidations. Domino effect down to 66k. Maximum pain.
Never touch it. #BTC holds 78k and grinds higher. Those long positions remain alive, but they turn into resistance on the way up because everyone is waiting to take profit and exit safely.
But the thing about liquidation heatmaps is that every time they show everyone where the trap is and say “hopefully we do not get dragged into it”, the market ends up dragging itself straight into it.
#StrategyBTCPurchase
We are at 78k dollars, and if $BTC drops just 4k down to 73k, the domino effect will begin.
Everyone who bought the dip at 80k, 75k, 70k using leverage will start getting forcibly closed.
That forced selling pushes the price lower. This leads to more liquidations. That, in turn, pushes the price even lower.
The 66k-73k zone is where all the long term buyers are positioned. Billions of dollars in positions have survived the drawdown so far.
Possible scenarios:
Sweep the lows. Drop to 73k. Trigger liquidations. Domino effect down to 66k. Maximum pain.
Never touch it. #BTC holds 78k and grinds higher. Those long positions remain alive, but they turn into resistance on the way up because everyone is waiting to take profit and exit safely.
But the thing about liquidation heatmaps is that every time they show everyone where the trap is and say “hopefully we do not get dragged into it”, the market ends up dragging itself straight into it.
#StrategyBTCPurchase
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