Heatmap Map for Bitcoin Filter

Bitcoin (BTC) offers an extended side movement without any major price action during the past day. It is worth noting that the first encrypted currency has lost all market gains It increases its sudden price by 11 % From last week, returning to previous unification levels is about $ 86,000. According to the famous Burco Kesmeci, Bitcoin has now been set between two levels of important prices that practice sufficient potential to swing large costs.

Bitcoin faces making or breaking 84 thousand dollars and 87 thousand dollars liquidation areas

Using a filtering heat map, BURAK Kesmeci shed light on two levels of decisive prices that can affect the next step for Bitcoin. In general, the heat map visually liquidates the levels where the long and short positions are exposed to the risk of liquidation. The presence of dense groups indicates that a lot of liquidity is concentrated at a price, which means that many suspended losses and liquidation orders are stacked there.

The areas with these huge liquidity often attract price movements, as market makers and institutional traders tend to target these liquidity pockets to operate the references and thus allow them to buy at a reduced price or sell a bonus. According to Burrac Kismisi, The 24 -hour rotation map from Coinglass It indicates that the leading encryption assets now range between 84,849 dollars and 87,043 dollars, representing two decisive main price points for their movement.

Based on the analysis provided, $ 87,043 is a resistance indicating that the price break above this level can lead to short pressure as short traders force their positions at higher prices, which contributes to demand for high prices. In this upscale case, BTC may rise to about $ 90,000, but it will require strong pressure to buy to pay to higher price targets at $ 94,000 and $ 99,000.

Meanwhile, the $ 84,849 price zone offers a decisive support zone in which the price will decrease below, which would cause the liquidation of a large amount of long situations, which leads to great pressure for sale. If this drop occurs, BTC may find immediate support about $ 84,000, however, the potential decrease to low levels may be like $ 83,000 or 80,000 dollars as possible.

Bitcoin price overview

At the time of writing this report, Bitcoin is trading at $ 86,389, which reflects a simple gain of 0.11 % last day and an increase of 0.76 % in the past seven days. However, the leading cryptocurrency decreased by 10.84 % last month and left most of the new market participants in a deep loss.

Meanwhile, the volume of the BTC market trading market decreased by 72.39 % last day, indicating a decrease in market participation. While the thermal map analysis of the BURAK KESMECI liquidation shows potential two tracks, investors should also notice that bitcoin may remain linked to both liquidation areas except for a large incentive in the market.

Distinctive image from Investopedia, tradingvief chart