$BTC Liquidation Update

A total of $64,500 in $BTC long positions were liquidated at $96,864.90, marking a significant price retracement that caught many long traders off guard.

Key Details:

🔹 Amount Liquidated: $64.5K

🔹 Price Trigger: $96,864.90

🔹 Market Action: Sharp pullback following bullish rally

Market Analysis:

Bitcoin’s recent rally was met with a sudden correction, triggering a substantial liquidation event as long positions were forced to close.

This price action highlights the market's volatile nature, especially when BTC reaches critical resistance levels.

With the current dip, traders should closely monitor support levels, with $95,000 acting as a potential short-term floor.

Outlook:

If the market fails to recover above the $97,000 range, further downside could test lower levels around $92,000.

Conversely, a strong rebound could see BTC retesting recent highs.

Risk Management:

For those still holding positions, managing risk is crucial.

Tight stop losses are recommended, and traders should be cautious of further volatility in the coming sessions.

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