Bitcoin Liquidation Levels
Bitcoin price is currently trading at $71300 and this was the move which was expected that Bitcoin will first grab the liquidity of the Short positions.
Around $182 million was liquidated within 24 hours, which is showing a good pullback from the buyers and the Bulls. We are seeing that bulls are becoming stronger then the Bears.
Then interesting thing about the Bitcoin liquidation levels, is that a huge liquidation is at $70K Which is around 50x leverage and 378 million long liquidation Leverage.
And also there is another huge liquidation of around 338. 56 million at the price of 73200.
So according to this liquidation map I can conclude that the price will first go to 70,000 to grab the liquidity of 358 million and then it will get back to 73K To grab other liquids of $390 million
So I guess the price will keep on Rising because short liquidations are more available on.n the map,
And as expected it will again retest its price level of 73,000 very soon.
What do you people think about Bitcoin liquidation map will it be helpful for trading? Will be glad to see your answers in the comment section.
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IMAGE TAKEN FROM CANVA
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