Bitcoin Sets Sights on Critical Liquidity Zones Over $90,000

Noting that most liquidations are focused in the upward region between $90,000 and $91,500—the psychological levels for many traders—the analyst emphasized the significance of liquidity and price movement in the days ahead.

Now that Bitcoin has recovered from last week's plunge near $74,000 and is up 7% on the weekly time frame, it may be time to take aim at these liquidity zones.

Approximately $15 billion is held in long positions at maximum liquidity, according to CrypNuevo, who also noted that the present liquidation differential is rather balanced. He implied that further scrutiny might be warranted if the liquidations surpassed $25 billion.

Price compression between the daily and weekly 50-day exponential moving averages (EMA), which is now at about $86,000, is the analyst's preferred scenario for the next week. This might result in a substantial expansion of price.

Following the market's propensity to move in threes, CrypNuevo hypothesized that a third retest may occur, since analysts generally seek for patterns in market activity.

Prices would be much more compressed, according to the expert, which might cause a more forceful breakout in the future. Although this scenario is less probable, it is still within the realm of possibilities, as he pointed out a crucial mid-range support line near $81,000.

On social media, another well-known expert, Ali Martinez, shared similar views, pointing out that $82,024—the level at which almost 96,580 BTC were once held—is a significant support level for Bitcoin.

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