Bitcoin has continued to rise recently, reaching a peak of $69,000 on the 19th. Many friends say that the bull market has begun, and the next target is 89,000. So can the market really continue to rise in a straight line? We can look at the points that BTC longs and shorts need to pay special attention to on the weekend from the liquidation map:
From the liquidation map, we can see that the strength of the short orders is slightly greater than that of the long orders. The main concentration points of short order liquidation are 69280 and 69470, with liquidation strengths of 179 million and 218 million US dollars respectively. The short liquidation range is relatively concentrated all the way to 70180, and this range has accumulated a short liquidation strength of 348 million US dollars.
Short sellers need to pay attention to the two points around 69470 and 70180. 70180 is near the integer and the previous high. If you get the liquidity of the short order at this point, there may be a short-term retracement.
However, because BTC is currently rising strongly, even if you want to open a short order, you can only do it in the short term and set a strict stop loss.
From the map, we can see that the pullback after the rise to 69,000 has caused many long friends to liquidate their positions in advance, so the cumulative liquidation of long orders is slightly lower than that of short orders. The current concentrated liquidation points of long orders are 67,400 and 66,700, and the cumulative liquidation strength of these two points is 220 million and 300 million US dollars respectively.
The liquidation range of long positions is also concentrated up to around 66700, and 67400 and 66700 are near the support level and the previous low point respectively, so long friends at these two points must be more careful. If they can rebound, it is naturally a good point to open a position.
However, if the long black candlestick falls below these two points, BTC is likely to experience another wave of retracement in the short term, and it is a retracement that fails to break through the upper trend line$BTC
