Bitcoin Detailed Analysis: Price Analysis, Liquidation Heat Map and What’s Next for BTC?

• Bitcoin sees sideways movement between $29,600 and $29,200 on the 2-hour chart.
• Daily charts pinpoint $29,500 as a crucial resistance level for BTC.
• Liquidation data for BTC sheds light on potential price reactions.

Discover the latest Bitcoin price trends, technical analysis, and potential price movements based on current market conditions. Dive deep into BTC’s short and long liquidation levels.

Recent Bitcoin Trend Insights

• Bitcoin’s 2-hour chart displays a lateral movement in the range of $29,600 to $29,200. Closings above $28,200 signal a potential rise, whereas closings below $29,200 may indicate a bearish trend.
• On the daily chart, the $29,500 level emerges as a significant resistance point. Closings above this level can strengthen targets of $31,000 and later $32,300.
• If the price closes below $29,500 on a daily basis, we could witness a movement towards the support levels of $29,000, followed by the $28,600 to $28,200 range.

Bitcoin, in its 2-hour chart, oscillates between $29,600 and $29,200. While closings above $28,200 suggest an upward trend, those below $29,200 hint at increased downward potential. On the daily chart, $29,500 stands out as a clear resistance.

Mid-term BTC Outlook

Upon examining Bitcoin’s daily technical chart, it is evident that it operates near the critical resistance zone of $29,500. If Bitcoin consistently closes above this on a daily basis, it might set its sights on the $31,000 mark. Following this, the next target to watch out for would be the $32,300 range.

Should Bitcoin achieve daily closings above $31,300, the next potential move could be towards the $32,300 level. However, to reach these targets, it’s imperative for Bitcoin to first maintain consistent daily closings above the $29,500 mark.

Conversely, if Bitcoin keeps closing below the $29,500 level, it might initiate a bearish movement, firstly aiming for the $29,000 mark. Subsequent to this, we might observe a trend towards the $28,600 – $28,200 support zone. But, if BTC maintains its stance above the $28,200 support, the bullish potential remains intact.

Liquidation Heatmap Overview (Binance, BTC – Last 2 Years)

The ongoing Bitcoin price is [mcrypto coin=”BTC”] USD, showcasing a 24-hour trading volume of [mcrypto coin=”BTC” info=”volume”] USD. We offer real-time BTC to USD price updates. Over the past 24 hours, Bitcoin’s price has decreased by [mcrypto coin=”BTC” info=”change”]. As of now, it holds the #1 position on CoinMarketCap with a live market cap of [mcrypto coin=”BTC” info=”marketcap”] USD. The circulating supply stands at 19,458,406 BTC coins out of a total possible supply of 21,000,000 BTC.

SHORT LIQS from $29k to $38k (a $9k Price Swing)

• 29.600 -> 5.6B
• 30.000 -> 12.4B
• 30.400 -> 14.7B
• 30.800 -> 58.3B
• 31.200 -> 21.7B
• 31.600 -> 0
• 32.000 -> 61B
• 32.400 -> 198.6B
• 32.800 -> 188.4B
• 33.200 -> 197.7B
• 33.600 -> 124.7B
• 34.000 -> 111.1B
• 34.400 -> 66.1B
• 34.800 -> 143.4B
• 35.200 -> 83.4B
• 35.600 -> 104.1B
• 36.000 -> 103.6B
• 36.400 -> 118.8B
• 36.800 -> 25.1B
• 37.200 -> 55.5B
• 37.600 -> 21.9B
• 38.000 -> 24.2B

Total Short Liquidations up to $38k: 1.704B

LONG LIQS from $29k down to $20k (a $9k Price Swing)

• 28.800 -> 23.8B
• 28.400 -> 18.8B
• 28.000 -> 53.3B
• 27.600 -> 81B
• 27.200 -> 73B
• 26.800 -> 54.4B
• 26.400 -> 58.3B
• 26.000 -> 15.9B
• 25.600 -> 15B
• 25.200 -> 27.2B
• 24.800 -> 27.6B
• 24.400 -> 242B
• 24.000 -> 130.7B
• 23.600 -> 201.2B
• 23.200 -> 89.1B
• 22.800 -> 111.5B
• 22.400 -> 137.4B
• 22.000 -> 144.7B
• 21.600 -> 116.8B
• 21.200 -> 52.9B
• 20.800 -> 29.3B
• 20.400 -> 6B
• 20.000 -> 52B

Total LONG Liquidations down to $29k: 1.759B

Source: Hyblock, COINOTAG PRO Datas