Bitcoin continues to face downward pressure, nearing critical levels that may determine its future dynamics.
Current Bitcoin Market Situation
At present, Bitcoin faces pressure around the $108,000 level. The current price structure indicates bulls preparing for a potential breakout.
Key Liquidity Levels
Based on the liquidation heatmap analysis by CoinGlass, three key liquidity levels are highlighted:
- $106,000: The first critical level where significant long and short positions are expected to be liquidated. - $108,000: The most important resistance level, aligned with the descending trendline. Breaking above this level may trigger a sharp price increase. - $111,500-$112,000: The final cluster of liquidations, which may act as a magnet for further price growth if the previous levels are breached.
Conclusion
Monitoring the levels of $106,000-$108,000 and $112,000 will be crucial in determining Bitcoin's future behavior. Liquidity at these levels will dictate the course of action.
Liquidity levels hold greater significance than simple support and resistance levels. Tracking these pressure points is essential for understanding potential market trajectories.
