Over the past 180 days, the majority of leveraged positions have been related to Longs, and significant gaps have formed in the derivatives market (Futures+Perpetual).
These gaps are signs of low liquidity, meaning the price passed through without pause and can be filled at any moment. The main liquidity gaps are at 60k, 59k, 54k, and 50k.
Since most of the Open interest occurred between 60k and 71k, the liquidation levels are below and above these values, ranging from 50k to 78k depending on the leverage level.
Furthermore, taking a broader context (Last 4 years), we can also identify gap regions as marked. A small fraction of trades bought or traded Bitcoin in these ranges, and they will serve as possible future targets. While not a rule, they remain targets for Market makers.
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