Will Bitcoin Start a Rise to Clear Large Liquidations at the $27,000 Level?

• Bitcoin’s ability to stay above the $25,800 level reflects a desire for upward movement towards the $27,000 target.
• The concentration of liquidations and short trades in the $25,200 – $25,500 range indicates market sensitivity.
• A change in volume intensity signifies Bitcoin’s desire for upward movement and a decrease in selling pressure.

Bitcoin daily technical analysis shows a desire for upward movement towards the $27,000 resistance level, while liquidation data and trade numbers support the potential for growth.

Medium-Term BTC Analysis

Daily BTC/USD Price Chart

When examining Bitcoin’s daily technical chart, it can be seen that it is willing to rise towards its $27,000 resistance level with its ability to stay above the $25,800 level. Additionally, when analyzing this with liquidation data, it increases the potential for growth.

As long as the BTC price remains above the $25,800 support, it may target the $27,000 level first and then the $28,300 level.

Bitcoin Liquidation Data

When examining Bitcoin’s liquidation data, it can be seen that there is a higher concentration of liquidations in the $25,200 – $25,500 range, exceeding $100 million. As shown in the image above, there is a higher density of red lines in the $25,200 – $25,500 range.

With Bitcoin’s recent downward movements, there are 410 short trades compared to 298 long trades. If the BTC price reaches the $27,000 levels, 400 short trades will be liquidated.

Additionally, when looking at volume intensity, it can be observed that the red selling intensity for BTC has decreased, indicating a willingness for price to rise.