#bitcoin

This image is a heatmap from Coinglass, showing Bitcoin (BTC) liquidity levels on the order book across different price levels. Here's a breakdown of what it likely indicates:

Key Elements:

Heatmap Colors:

Brighter/warmer areas (yellow/orange) = Higher liquidity concentrations (stronger support/resistance zones).

Darker/purple areas = Lower liquidity.

Colored Ribbons (drawn by you):

Green (around $107,153.59): Indicates a support zone where buyers are likely to be.

Yellow (around $109,095.51): Another potential support, possibly weaker than the green.

Red Ribbons (from ~$111K up to $120K+): These are zones of high sell liquidity, suggesting strong resistance. The upward arrow suggests you anticipate price movement in that direction.

Interpretation:

The market is currently trading sideways near $109K–$110K.

Strong sell walls are stacked above, especially:

$111K (mild resistance)

$112K–$120K (progressively stronger resistance zones)

If price begins to break through those levels, it may trigger liquidity grabs (short squeezes), pushing BTC higher.

On the downside, supports exist at $107K and possibly $105K.