BTC Market Analysis
The current downward trend is clearly aimed at clearing long positions, especially the large number of long orders in the range of $57,850 to $55,700 that have been completely cleared.
The next thing to watch is whether the main force will liquidate the long orders in the range of $54,400 to $53,600.
In other words, if the price continues to decline, the main force will need to evaluate the cost-effectiveness of liquidating long orders in this range.
If the potential gains from liquidation are attractive enough, the main force may adjust its strategy to further push prices down.
