LIVE#Bitcoin liquidation heat map: Over the last day, we took out a bit of downside liquidity with a short-term pullback caused by recent news. However, suppose we zoom out to a slightly larger timeframe on the liquidation map. In that case, we can still see a lot of liquidity to the upside, mainly sitting at around $70.7K and going up towards approximately $71,000. Since the short-term pullback over the last day, many new short positions have opened up, with a liquidation price around $71,000. This means it is quite likely that the price could return to those levels sometime soon. Once the price eventually crosses above $71,000 again, it will liquidate hundreds of millions of dollars in short positions, potentially causing a short squeeze to the upside.
