Bitcoin's life and death line exposed: break 117K to kill the shorts, break 113K to slaughter the longs! 580 million vs 690 million, who will bleed first?
Bitcoin is dancing on the edge of a cliff! 117,000 is the guillotine for the bears, while 113,000 is the meat grinder for the bulls—if either side loses ground, it will trigger a bloodbath worth hundreds of millions of dollars!
Plain language interpretation:
Core data: Coinglass's "liquidation intensity chart" is like a "high-voltage map" of Bitcoin. It tells us two extremely dangerous price points:
Breaking above 117,000: This would lead to a collective liquidation of short positions, causing severe market fluctuations, with a "liquidation power value" reaching up to 558 million dollars.
Breaking below 113,000: This would lead to a collective liquidation of long positions, resulting in even more intense market turbulence, with a "liquidation power value" reaching an astonishing 690 million dollars.
Imagine, the price is like flowing water. The two positions of 113,000 and 117,000 are like two massive "pits" in the riverbed. Once the price falls into this pit, it will trigger a chain reaction, causing a massive avalanche of stop-loss orders clustered around this price level, collapsing like a "mudslide." The higher the pillars, the deeper and steeper the "pit," and the larger the scale of the resulting "mudslide" (liquidity shock), the more severe the instantaneous impact on market prices! 558 million and 690 million are numbers used to quantify and compare the destructive power of these two "pits."
"Double kill" pattern: The current price is precisely sandwiched between these two massive "liquidation minefields" of 113,000 and 117,000.
This means:
Breaking above 117,000, the bears would face large-scale liquidation, and the liquidation orders would be forcibly bought to close positions by the exchanges, potentially acting like rocket fuel to propel prices further upwards.
Breaking below 113,000, the bulls would face large-scale liquidation, and the liquidation orders would be forcibly sold to close positions by the exchanges, akin to hitting the brakes and then flooring the gas in reverse, potentially triggering a price avalanche. #BTC
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