After Bitcoin experienced a spike on Friday, nearly $350 million of long positions were liquidated. Currently, it has slightly risen and closed at 67,700. Will BTC continue to rise or continue to spike up and down? Let's look at the points that both long and short sides need to pay attention to from the liquidation map:
First of all, from the map, we can see that the current bullish force is still greater than the bearish force, which means that although the spike has caused a huge amount of long positions to be liquidated, the enthusiasm for long positions remains unabated. At present, the main point for the concentrated liquidation of short positions is 68240, with a liquidation intensity of 141 million US dollars, while the liquidation range of short positions is around 68920, with a cumulative liquidation intensity of 220 million US dollars.
Therefore, 68240 is a position that short sellers need to pay special attention to, because this price is not far from the current price, so you should pay attention to whether to clear the short orders near this price first.
The liquidation intensity for long positions is slightly higher than that for short positions. The most concentrated liquidation point is around 66130, which has accumulated a liquidation intensity of 213 million US dollars. The liquidation range for long positions has accumulated to around 65470, and the liquidation intensity of this range has reached 306 million US dollars.
Therefore, long-term friends need to pay special attention to the 66130 point. In the short term, if BTC can clear the long orders near 66130 and close upward, it will be a good point to open a long position.
