Bitcoin has been consolidating between 99,600 and 90,800 for nearly two weeks, but the greed index remains above 70, indicating that many people are still betting that BTC will reach 100,000. So what are the points that both the long and short sides of Bitcoin need to pay special attention to? Let's take a look at the liquidation map:
As can be seen from the map, today's decline has almost liquidated the short-term long positions below. At present, the short position liquidation intensity is slightly greater than the long position, and the main concentrated liquidation points of short positions are 96700 and 97700, with the liquidation intensity of these two points being 187 million and 514 million US dollars respectively. The liquidation range of the upper short positions is around 98200, and this range has accumulated a liquidation intensity of 650 million US dollars.
So friends of the bears need to pay special attention to 97700 and 98200. These are not only concentrated liquidation points but also near the upper trend line and previous highs. If the price approaches this area and briefly breaks, it can be a reference position for bears to consider for building a position in the short term. However, the risk is relatively high because if it stabilizes and breaks through, it might not be far from 100,000.
In contrast, the current concentrated liquidation points for both bulls and bears are 93700, 92800, and 92200. The bulls are mainly concentrated on liquidation around 91800, where a cumulative liquidation intensity of 500 million dollars has occurred in this range.
Currently, Bitcoin is on the rise in the short term. If the price does not stabilize above the key level of 95800, I believe the next target point of 92800 is a position where bulls can try to build a small position, as this level is not only a concentrated liquidation point but also a support and resistance zone. However, if this level cannot hold, the price might have to see the previous low around 90800.