Update

As expected, BTC has removed all the lower liquidations, and there is now little liquidity at the lower levels.

From a technical perspective, BTC is forming a descending wedge pattern, and we are currently at the lower support level, which seems solid as a support zone. We also have the 100 EMA acting as additional support here.

In my opinion, this is a good time to buy the dip.

According to the liquidation heat map, there are millions of dollars in liquidations between the range of $111K–$112K.

Technically, we are also at a strong support level.

So I am expecting a bounce towards the upper liquidation zones.

I will keep you informed as things develop.

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