$BTC is approaching liquidity again.
According to the histogram, we see some outliers:
- The proportion of real retail long positions is still quite low (11 percentage points). If it falls (rises) back to the mean/median, it would be bearish.
- Order book: The buy-sell ratio at 5% depth is at 20 percentage points, the buy-sell ratio at 2% depth is at 12 percentage points, and the total order book at 20% depth (buy + sell) is at 23 percentage points. Both buy-sell ratios are negative, and if both are below -0.3, the bearish trend is quite obvious.
- OI has not changed much in the past 24 hours and is close to the median of the past 90 days.
- The percentage of long liquidation levels (by quantity) is quite high. Currently, 77% of all liquidity levels are long (at the 90th percentile). By size, 82% are long, at the 92nd percentile. This again indicates a bearish signal -- as the price may drop soon to catch up to that level.
The liquid cluster above may act as a magnet, but be sure to remain cautious when reaching there.
