Bitcoin $BTC recently experienced a significant short liquidation at $102,183.40, resulting in a loss of approximately $26,976.
This event underscores the inherent risks associated with leveraged trading in the cryptocurrency market.
As of now, $BTC is trading at $102,219.00, reflecting a slight decrease of 2.27% from the previous close.
The intraday high reached $105,939.00, while the low touched $101,437.00, indicating notable volatility within the trading session.
In terms of technical analysis, BTC has established strong support at the $100,000 level, a critical psychological barrier.
Immediate resistance is observed around $105,000, with a more significant hurdle at $110,000.
Looking ahead, if $BTC manages to break above the $105,000 resistance, it could pave the way for a move towards $110,000.
Conversely, a decline below the $100,000 support might lead to further downside pressure.
In summary, the recent short liquidation at $102,183.40 highlights the volatility of BTC's market.
Traders should monitor these key levels closely and employ prudent risk management strategies in their trading decisions.
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