Analysis: BTC is testing new support levels. If it shows a 10% increase, short positions exceeding 15 billion dollars may be liquidated.
Bitcoin is struggling to retest support levels, and liquidity analysis shows that conditions are ripe for a significant short squeeze. Market price fluctuations are expected, and if prices drop again, $100,000 is still a possible target. Analyst Cas Abbe shared on X platform that if the Bitcoin price rises by 10% now, a $15.11 billion short position will be liquidated. At the same time, if the Bitcoin price falls by 10%, a $9.58 billion long position will be liquidated. The current negative funding rate indicates that "many short positions" emerged over the weekend, and significant fluctuations are expected next week; this could push the Bitcoin price above $109,000 to $110,000.
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GateUser-908184b1
· 06-09 03:12
The first round of BTC pullback has officially started. A couple of days ago, I mentioned that the extreme position for this round of pump is around 105700. Now it has just broken the resistance level of 105800 and is now pulling back. BTC surged from 100300, pumping up by 5500 dollars without any pullback, but now it’s time to start the pullback. The first round of BTC pullback is expected to see the position around 104400, while ETH is looking at the position of 2560. It’s possible that after this position is reached, BTC may go back up to around 1067. We need to observe the situation as we go, because 1067 is the next resistance level, and it’s very likely to be broken. If it is broken, it should be around 107000! The above points are for reference only and should not be taken as trading advice. Please rely on actual points for specific situations. #BTC # ETH #Pi
Analysis: BTC is testing new support levels. If it shows a 10% increase, short positions exceeding 15 billion dollars may be liquidated.
Bitcoin is struggling to retest support levels, and liquidity analysis shows that conditions are ripe for a significant short squeeze. Market price fluctuations are expected, and if prices drop again, $100,000 is still a possible target. Analyst Cas Abbe shared on X platform that if the Bitcoin price rises by 10% now, a $15.11 billion short position will be liquidated. At the same time, if the Bitcoin price falls by 10%, a $9.58 billion long position will be liquidated. The current negative funding rate indicates that "many short positions" emerged over the weekend, and significant fluctuations are expected next week; this could push the Bitcoin price above $109,000 to $110,000.
A couple of days ago, I mentioned that the extreme position for this round of pump is around 105700. Now it has just broken the resistance level of 105800 and is now pulling back. BTC surged from 100300, pumping up by 5500 dollars without any pullback, but now it’s time to start the pullback. The first round of BTC pullback is expected to see the position around 104400, while ETH is looking at the position of 2560. It’s possible that after this position is reached, BTC may go back up to around 1067. We need to observe the situation as we go, because 1067 is the next resistance level, and it’s very likely to be broken. If it is broken, it should be around 107000!
The above points are for reference only and should not be taken as trading advice. Please rely on actual points for specific situations.
#BTC # ETH #Pi