Bitcoin’s decline during the weekend correction was as high as 7%. Many friends also felt that the correction was almost done and started to open long positions. So has BTC really fallen to the right level at this moment? Where is the concentrated liquidation point for both long and short positions? Let’s take a look at the liquidation map:
As can be seen from the map, although it has experienced a 7% correction in a short period of time, the bullish force below is still relatively strong. At present, the liquidation points where the short positions are concentrated are 95350, 96070 and 96790, with a cumulative liquidation strength of 151 million, 452 million and 599 million US dollars.
The short position liquidation range is around 97200, and the liquidation intensity in this range reaches 720 million US dollars.
Therefore, short sellers need to pay special attention to the two concentrated liquidation points of 95350 and 96000, which are also near the support and resistance level of the previous low point. If there is a trend of false break at this line, it can be considered as a short-term short position building area, but if it can fluctuate and stabilize, this wave of callback trend may be over.
On the other hand, the liquidation points of long positions are relatively concentrated. Currently, there are only two points, 91500 and 90850, with liquidation intensities of 227 million and 437 million US dollars respectively. The main range of long liquidation has been concentrated around the integer of 90000.
If the market falls again, the main point that long friends need to pay attention to is around 90850, because this is not only a concentrated liquidation point, but also the central axis of the last consolidation breakthrough. If it really comes to this area and there is a downward pullback or multiple short-term bottom confirmations, it should also be a good reference position for long positions. $BTC