$BTC approaches $94.500, will huge liquidity zone suffocate Short?
The liquidity picture display a massive capital concentration right above the current price creating pressure forcing the market to move to resolve this order volume
š¹ The solid wall of 94.500 USD where a huge amount of high leverage short orders are waiting to die here
šø According to the market mechanism, prices tend to find the place with the highest liquidity to optimize profits for the house, so the scenario of BTC bouncing up to sweep the 94.500 USD area is very feasible in the short term
š¹ On the contrary, below the liquidity levels are quite thin and scattered, showing that the Long side does not place too many Stoplosses near but scattered all the way to the 89,000 to 90,000 USD area
šø With this structure, the market is leaning towards the short squeeze scenario to push the price up to sweep liquidity before any major correction occur
Will you bet on an increase to 94,500 USD or wait for a crash to 90,000 USD to catch the bottom?
This article is for reference only, this is not investment advice. Please read and consider carefully before making a decision.