Although Bitcoin fell by nearly 3 points in 2.5 hours, the long positions were liquidated for less than 50 million US dollars. Compared with this low liquidation volume, it also means that the dealer has not yet harvested a satisfactory amount of chips. Without considering other factors, I will guess where the dealer may pull up based on the position liquidation data.

According to the 24-hour liquidation map, the next long liquidation high for Bitcoin is between 57,000 and 56,500. This means that after a 1,500-point drop (about 1.9%) from the current level of 57,750, the bookmaker will gain about $200 million in liquidity, but below 56,000, long liquidity drops significantly.

The liquidation points of short positions are concentrated around 59,000 to 59,800. If the price rises to this range, the dealer can obtain nearly $450 million in short chips. Therefore, from the perspective of the liquidation map, Bitcoin may first fall to the 55,500-56,500 range and then rise to 60,000. In addition, 55,500 is also the 0.618 support line after the last plunge from 49,000.

Therefore, the 55200-56000 range can be used as a reference point for covering long positions or entering the market.

This is a partial analysis, for reference only. If you have any opinions, please leave a message