Quick $BTC Update:
Short Squeeze very likely up to 61k~62k. Then probably immediate reversal after short squeeze ends. There is no merit to buy right now, but the amount of overleveraged shorts and negative funding rate that lasted for quite a bit will be enough to cause a short squeeze.
If you want to profit quickly, you can go for a quick long setup but be ware of the reversal. If you are intending to short, make sure your risk is low enough to survive a short squeeze, because after that it's pretty much a guaranteed dump.
Liquidation Map from Coinglass shows concentrated liquidations on 60k~62k for shorts, and 56k~50k for longs. These are key points, however 60k liquidations were hit multiple times and after barely peaking to 61k there was no more inflow to pump the price higher. The only reason it spike pumps time to time in the last month is due to short liquidations, not real inflow.
As always my liquidation is so high it's impossible, it's not high profits but atleast I can just wait it out as much as I want. I do not plan to go long to quickly snipe this short squeeze because the crash will happen all of a sudden while pumping. I predict the longer trend will be downwards on and on, no need to do risky bets for some quick profits when I've been trading so safely for months.
That's it stay safe don't get liquidated, it's not an option bye!! Stop gambling. Picture is 1 week liquidation map, possible points of a cascade liquidation.
Summary: Quick pump to liquidate shorts then dump near 62k.
