The BTC (Bitcoin) market shows the movement to the side that is extended without significant price measures last day. In particular, Premier Cryptocurrency has lost all market profits due to a sudden increase in price of 11%, which returns to the previous level of $ 86,000 since last week. According to Burak Kesmeci, a popular encryption analyst, Bitcoin is now set between two important prices that stimulate enough potential for significant price swing.
Bitcoin faces production or violation $ 84K and $ 87K liquidation area
Burak Kesmeci uses a liquidation heat map to emphasize two important price levels that can affect Bitcoin’s next movement. In general, the liquidation heat map visually shows the level of a long and short level of leverage. The presence of high density clusters indicates that many liquidity is concentrated at the price. In other words, many stop losses and liquidation orders accumulate.
This large -scale liquidity area attracts market manufacturers and institutional traders to induce liquidity pockets, which can be liquidated and can be purchased at a discounted price or sold in a premium. According to Burak Kesmeci, CoingLass’s BTC 24 -hour liquidation rod suggests that flagship encryption assets are now representing two main price points between $ 84,849 to $ 87,043.
Based on the analysis presented, $ 87,043 is used as a resistance, and it suggests that short prices with short prices have to be reduced to a higher price that contributes to price rally demand. In this optimistic case, the BTC can rise to about $ 90,000, but it requires a strong purchase pressure with a higher price target of $ 94,000 and $ 99,000.
Meanwhile, the price area of $ 84,849 offers an important support area with a low price to clear a large amount of long positions, causing significant sales pressure. If this projection occurs, the BTC can find immediate support of about $ 84,000, but potential figures can be available at low levels such as $ 83,000 or $ 80,000.
Bitcoin price outline
At the time of writing, Bitcoin has traded $ 86,389 in the last seven days, reflecting a slight increase of 0.11% and reflecting an increase of 0.76% over the last seven days. But last month’s premier cryptocurrency decreased by 10.84%.
Meanwhile, the BTC market trading market volume shows a decrease in market participation due to the collapse of 72.39% last day. The liquidation heat map analysis presented by Burak Kesmeci shows two paths, but investors should also point out that Bitcoin can maintain the range between the two clearing areas that prohibit the introduction of a significant market catalyst.
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