After Bitcoin reached a historic high yesterday, it experienced a slight correction and is currently around 10,400. So where are the main liquidation points for BTC longs and shorts, and which positions are suitable for building positions in the short term? Let's take a look at the liquidation map:
First, from the map, although BTC experienced a nearly 5% correction, the bullish sentiment remains unchanged. Currently, the liquidation intensity for shorts is slightly better. The concentrated liquidation points for shorts are around 106,100, 107,100, and the previous high of 108,400, with cumulative liquidation intensities of 258 million, 448 million, and 680 million dollars respectively.
The concentrated area for liquidating short positions above extends up to around 109,500, where a cumulative liquidation intensity of 788 million dollars has accumulated.
Particular attention should be paid to the range of 106,500-107,000, as this position is not only a concentrated liquidation area but also near the previous upward trend line. If it reaches this range and breaks out falsely, there could still be another wave of correction.
However, because the current bullish trend has not been broken, the risk of shorting is still relatively high. Therefore, if one wants to short from the left side, they can only enter with a small stop-loss and exit when hit.
For bulls, the liquidation map is quite clear. The main concentrated liquidation points are around 12,600-12,400, with a liquidation intensity of about 400 million dollars. The concentrated liquidation area for bulls extends up to around 101,544, with a cumulative liquidation intensity of 543 million dollars.
The points that bulls need to pay attention to are around 12,400-12,600. This area is not only the main liquidation zone for long positions but also an important support and resistance zone. If it can spike and pull back in this area, it would be a good reference zone for building long positions in the short term.