A high concentration of potential liquidation levels at a specific price range may indicate that price might move toward that region. Some traders use these pockets of liquidation levels as a way to gauge which way price is more likely to head towards along with other indicators that may be used as confluence.
I still think we have to touch lower levels before resuming up, the liquidation map may show us the way to follow in the mid term for the price of BTC.
An important zone is around 50K ...In my opinion, that's a good support for BTC to rebound on...
Till then, HIVE price, which is fully dependent on BTC nowadays, is going to suffer hard...
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The market is going to see us stand still for a few days as soon as money comes into the market from China's approval of ETFs, then it will go up and today there is news that Bank of America they are starting to default again, so some time ago when this happened, there was a lot of money coming into the market, people had faith in the market.
I agree with your outlook. I think we need to hit lower levels to flush out the weak hands. Once that is done, I think they will push it back up. Maybe those bulls are just accumulating while this happens.
I will buy at 50k, and I agree with you. Before we can see further growth, BTC must seriously test the support levels and check how solid the bottom is...
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