Since Bitcoin dropped to 76,000 last time, it has been moving in a fluctuating upward trend, but from the candlestick chart, the bullish strength appears weak. So, what are the key points that both bulls and bears need to pay attention to? Let's take a look at the map.
From the map, the short positions are mainly concentrated around the liquidation points of 87800 and the previous high of 88300, with cumulative liquidation amounts of 210 million dollars and 433 million dollars.
The main area of liquidation for shorts has remained around 89300, where a liquidation intensity of 654 million dollars has accumulated.
If the market spikes in the range of 89300-90000, it is a reference point for short positions, but if a strong bullish candle breaks through, the price may test the key level around 92000.
For longs, the main liquidation point is 85500, with a cumulative liquidation amount reaching 308 million dollars.
I believe that the only positions that the bulls can consider for building positions are around 84700. If it holds, that's fine, but if this level cannot hold, we will have to look at around 82000.
Since the market seems to be following a bearish flag, and the candlestick chart shows that the bullish strength has been relatively weak, opening long positions should be based on small stop losses. If it doesn't work out, just pull back; definitely don't resist.