In recent days, Bitcoin has been oscillating within a range, repeatedly pushing up and retracting, while a large volume has been released in 15 minutes. There may be market makers testing the waters, but the market has not yet formed a consensus.
So the price has repeatedly turned down after touching the upper edge around 85000, what points do both bulls and bears need to pay attention to now? Let's take a look at the map:
From the map, the concentrated points for short liquidation are very clear, mainly at 84380 and 84930, with cumulative liquidation strengths of 250 million and 454 million USD respectively. The range of concentrated short liquidations extends up to around 85500, which has accumulated a liquidation strength of 594 million USD.
Therefore, the previous high of 85000-85500 is a key point. It is said that things happen in threes, and if the price comes back here and forms a pin again, there will also be many people shorting in the short term.
If you want to short, you can only use the pin tip as the stop loss. Similarly, if the price first drops and then breaks through the pin tip, it may initiate a rebound. At this time, going long would allow you to set the stop loss near the top of the box around 85000.
The main liquidation points for the bulls are concentrated at 81900 and 81300, with cumulative liquidation strengths of 198 million and 329 million USD, while the liquidation range for the bulls extends down to around 80500, which has accumulated a liquidation strength of 470 million USD.
If the market turns down, I think we can consider entering around 81300, provided that a pin bar forms, but this position carries a higher risk and can only be a small position. Secondly, there's the area near the bottom of the box at 79900.
But if the market first forms a pin around 85000 and then turns down sharply, I think it's advisable not to go long for the short term. If the current price turns down around 83000 and forms a pin at 81300, a small position can be tested for long.