BTC Update
BTC is currently trading around 70.5K–71K and the market is mostly moving sideways after the sharp drop we saw earlier.
From the liquidation heatmap, there’s a noticeable amount of liquidity sitting above the price around 72K–74K. These levels usually attract price because a lot of short liquidations and stop orders are likely resting there.
At the same time, there’s also some liquidity below around 69K–68K, which is acting as the nearest support area for now.
After the move that swept liquidity near 73–74K, $BTC dropped quite aggressively and since then price has just been ranging above 70K.
In my opinion, as long as 70.5K holds, BTC could try to push higher again and possibly run the liquidity around 72K–74K.
But if the market loses 70.5K with momentum, then a quick move toward 69K–68K wouldn’t be surprising.
For now BTC is basically stuck between two liquidity zones, but the liquidity above price still looks a bit heavier.
Let's see which side gets taken first. #BTCReclaims70k #BTC 