A significant long position worth $958,000 was liquidated at $94,983.30, indicating a notable bearish move in the Bitcoin $BTC market.
Support and Resistance Levels:
Support: Key support levels are identified at $70,000 and $73,000, which could attract buying interest during any retracements.
Resistance: Bitcoin is approaching the significant $100,000 milestone, with recent peaks near $99,800.
Recommendation:
Given the current market dynamics and the recent liquidation event, it is advisable to exercise caution. $BTC
The market is exhibiting bearish tendencies, and entering new long positions may carry increased risk. Monitoring the aforementioned support and resistance levels can provide insights into potential market movements.
*Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice.
. Always conduct your own research before making any trading decisions.*
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