$BTC A significant event has just occurred in the Bitcoin market: a short position worth $374,850 was liquidated on Bybit at a price of $96,784. This indicates that the trader anticipated a price drop, but the market moved upward, reaching their liquidation point.
Current Market Overview: As of now, Bitcoin (BTC) is trading at approximately $97,193. The recent upward momentum suggests strong buying interest, possibly influenced by positive market sentiment and increased demand.
Trading Strategy:
1. Buy Zone: Consider entering a long position if the price retraces to the $93,000 - $94,000 range. This area has been identified as a potential demand zone, where buying interest may be strong.
2. Target Levels:
Target 1: $98,000 - $100,000. This range serves as the nearest resistance zone, where some selling pressure might occur.
Target 2: $106,000 - $108,000. This area aligns with a higher resistance level and could be a potential