Bitcoin has been continuously hitting new historical highs since rebounding around 66800, as mentioned in our last issue. Coupled with the Trump effect, many friends have already seen 80,000 and 90,000. Will the market really continue to surge upwards without looking back? Let's take a look at the liquidation map:
From the liquidation map, the forces of both bulls and bears are quite balanced. Although the bears have been continuously liquidated, there is still considerable short selling power above due to the historical highs.
Currently, the main concentrated liquidation points for short positions are around 77200, 77600, and 77900, with cumulative liquidation intensities of 132 million, 320 million, and 441 million USD, respectively. The concentrated liquidation range for shorts has accumulated up to around 78350, with a cumulative liquidation intensity of 530 million USD.
Therefore, friends holding short positions need to pay special attention to the points 77900 and 83000. After clearing the shorts around this area, will they turn downwards? However, since we are currently at historical highs, it is best to look bearish without actually shorting. Personally, I foresee the possibility of this bull market reaching around 87000, though this is a very left-sided judgment.
From the map, the long positions are concentrated at the liquidation point of 75550, with a cumulative liquidation intensity reaching 240 million USD, while the liquidation range for long positions has accumulated up to around 74800, with a cumulative liquidation intensity of 467 million USD.
Currently, the reference point for long positions is clear; around 75550 is the bottom of the consolidation area. If it closes around this line, it serves as a reference point for short-term bullish sentiment. If the solid bearish candlestick breaks, closing near 74600-74800 is also a good reference point. However, if both of these points are broken by large bearish candlesticks, it may trigger a pullback $BTC .
