Let's look at the current picture for #Bitcoin (BTC) based on a heat map of liquidations over the last 6 months.
Key Elimination Zones đ„:
Support Zone:
Price Range: $50,000 - $56,000
Volume of Liquidations: 4.8B - 5.3B This zone shows a significant number of liquidations, indicating strong support. Buyers actively enter the market when the price falls to these levels.
Resistance Zone:
Price Range: $68,000 - $75,000
Liquidation Volume: 6.2B - 14.25B You can see a lot of liquidations of short positions here, which creates a resistance zone. Sellers actively enter the market when the price reaches these levels.
Graphic Analysis đ:
Green bars: Indicate the price levels at which long positions were liquidated.
Purple bars: Liquidation levels of short positions. The brighter the bars, the greater the volume of liquidations at that level.
Key Observations đ:
Active Liquidations: Since the beginning of the year, a significant number of liquidations are visible in the range of $50,000 to $75,000. This indicates high volatility and strong movements in the market.
Support and Resistance Levels:
Support: Strong support is forming in the range of $50,000 - $56,000. If the price #BTC falls to these levels, it will likely face strong buying pressure.
Resistance: The $68,000 - $75,000 zone is the key resistance. If #BTC reaches these levels, expect increased selling pressure.
If you have any more questionsđđĄ âĄïžđ@INVESTIDEAUA