#BTC/USDT
1️⃣ Bitcoin is currently trading in a range between $65,000 and $71,900. Within this range, both bulls and bears are trying to gain control of the market.
2️⃣ According to the Liquidation Heatmap, there is a large amount of short positions liquidity around $71,800.
3️⃣ If the bulls break this liquidity, a strong short squeeze could occur in the market, which may push the price quickly toward $73,000 or even higher.
4️⃣ To invalidate the current bearish structure, Bitcoin needs a daily candle close above $75,000.
5️⃣ On the other hand, there is also a large amount of long positions liquidity around $65,000.
6️⃣ This means that before a major move, there is also a possibility of a downside liquidity flush.
Summary:
Bitcoin is currently ranging, and the price may first sweep liquidity either below $65,000 or above $71,800 before making a strong move.
