Liquidations in the cryptocurrency market over the past 24 hours amount to $473 million, of which longs are $351 million. If this trend continues, the outcomes of the bull run for #BTC will result in more losses among the bulls than among the bears.
Although there have been more liquidations in the last hour and 4 hours, according to #Coinglass, they are indeed with the bears. This reflects the execution of the forecast with the 'Dragon', although the strength of the impulse there is not 'dragon-like', but there is growth. The result of breaking through the trendline is shown in the screenshot.
There is separate noteworthy information regarding these levels.
On November 21, all liquidity was below with the bulls. At that time, a sharp price drop of #BTC to $84,288 would have led to the liquidation of long positions amounting to a staggering $15.2 billion. Meanwhile, a rise above $107,000 would lead to the liquidation of short positions of only about $2.5 billion.
The picture now:
- a sharp correction to $86,162 would lead to liquidations of $12.84 billion.
- a sharp rise to $107,222 would lead to liquidations of $6.88 billion.
The heat map for #BTC on #Binance indicates the importance of the upper levels at $97,923, $98,380, and $99,371.
Overall, no one disputes that there is more liquidity below. But the liquidity of the bears is starting to 'stick'. And with all the abundance of signals for correction/range, #BTC starting tomorrow - one should not underestimate the bull run. Shorts should not be a priority by default.
