👽✌🏻❤️🔥💥Bitcoin on the Tightrope: Is a Major Liquidation Looming? 📉⚖️
💥The Bitcoin market is experiencing hours of intense volatility. Technical indicators suggest that the cryptocurrency may be facing a short-term ceiling.
Technical Signals in Red 🚨
Approximately 6 hours ago, several key indicators pointed to a possible exhaustion of the bullish momentum. A bearish divergence was observed in the RSI, a sell crossover in the MACD, and the dreaded "death cross" of the MVRV. Despite this, the price managed to find crucial support at $108,700**, demonstrating the constant battle between bulls and bears. Today, showing its resilience, Bitcoin recovered above **$110,000, reducing its 24-hour drop to 2.59%.
Critical Liquidation Levels 💥
Coinglass data reveals the upcoming triggers for a possible shakeout in the market. If Bitcoin manages to surpass the resistance of $115,247**, **$2,498 million in short positions could be liquidated. Conversely, a drop below $105,127** would trigger a long liquidation of **$1,191 million.
The Intriguing Fact 🤯
Did you know that when the price of Bitcoin hits $125,000, a short position liquidation bomb worth a staggering $17,000 million will activate? This massive liquidation level represents a potential "squeeze" (buying pressure) that could catapult the price into unknown territories if reached, being the next major level to watch closely.
The situation is extremely sensitive. Traders must remain alert, as any sharp moves towards these key levels could trigger a chain reaction in the market.
