$BTC after adjusting from 98k until now has had pullback movements back within the range of 86k-91k. Especially, the prolonged sideways movements around 87k–89k have continuously "refreshed" new liquidity. And then the price broke through 89k forming a higher low + a clear up structure on the low timeframe. Classic liquidity grab + structure flip.
Currently, the price is still being held extremely firmly. The possibility of continuing to rise is still high. Looking at the heatmap, it is clear: Liquid Shorts have continuously been wiped out, which is the main "fuel" helping BTC to pullback and then bounce back. This is not a coincidence.
Looking closer: Liquid Shorts are accumulating heavily from 90.5k upwards – a "sea of shorts" is waiting to be hunted. This is exactly why I am still holding my Long position on $BTC. Additionally, Liquid Longs are waiting at 88.7k in significant amounts, this could very well be the price area the market will move up to clear out before turning back to hunt Shorts again.
Below: New liquidity is forming around 88k, deeper down is 86.7k and below, these areas will support the price if there is a deep dip, but with the current momentum, the likelihood of a retest is much lower.
Are you holding Long or Short? Comment on your position and the heatmap observations.