Bitcoin 56K OR 74K ???
The current price of Bitcoin is around 69,000 and we see a range bound from the last 5 days.
Bitcoin is a range bound from 66000 to 69000 and the price seems to become stable right now.
Bitcoin right now have 2 direction to go towards 74000 or maybe ake a crash and go back to 56,000.
If you open a Bitcoin liquidation map it clearly shows that if bitcoin price drops to 56,000, there will be around 10 billion worth of long positions, which might be wiped out.
Also on the other side if Bitcoin Rises to 74K there will be around 5 billion in short positions, which can be liquidated.
The traders are looking very closely to the scenario and they are taking out the best option to get a good benefit.
According to my knowledge and experience. I think that Bitcoin will First Rise to 74K and then go back to 55K to grab the other liquidity.
THANK YOU!
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