Massive action! A massive long position worth $16.847K was liquidated at $93,593.20. This could create some major price swings in the crypto market and traders need to stay sharp. Let’s analyze and see what happens next! Long Liquidation Alert!
What happened?
The liquidation at $93,593.20 shows that traders who were betting on a continued rise in BTC were forced to exit their positions, triggering a sell-off.
This could cause rapid price movement as the market reacts. Keep an eye out for more volatility in the coming hours.
What’s next for $BTC ?
Current Price: Keep an eye on the $92,000 level. If BTC holds above this level, it could bounce back. But if it breaks, we could see $90,000 or $88,000 as the next support area.
Resistance: $95,000 and $98,000 are key resistance points. If it breaks above these levels, we could see it targeting the $100,000 mark!
Buy Zone: Look for a buy point around $90,000 – $92,000. If the price starts to stabilize in this range and shows signs of upward momentum, it could be a good entry point.
Target: The short-term target is $95,000. If it breaks above this resistance, aim for $98,000 and then $100,000 as major milestones.
Stop Loss: Place your stop loss below $88,000. This will protect your position if the price breaks sharply below the support.
The $16.847K long position was liquidated at $93,593.20, which is open to some volatility. Keep an eye on the support around $90,000 and $92,000, and keep an eye on the resistance around $95,000. Manage your risk carefully and don’t forget to use your stop loss!
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