In recent weeks, the cryptocurrency market has attended one of its most aggressive attacks. The most recent liquidation thermal card shows that leverage traders have been seriously affected, while Bitcoin approached the $ 100,000 mark with more than $ 298 million in total liquidations during the day before.
With losses of $ 114,46 million, Bitcoin led the effuyer as expected, followed by Ethereum with $ 65 million. The weight came across shorts destroying $ 215 million in short positions, indicating a traditional short configuration of short compression. In terms of price, Bitcoin is now negotiated just under $ 100,000, indicating that its rally in small groups is still solid.
The asset is significantly above the three major mediums of moving (50, 100 and 200 EMA), and the plug in small groups the most recent groups firmly validates the current trend, confirming a strong bullish structure on the daily graphic. Although this does not yet indicate exhaustion, the RSI, which oscillates around 70, can cause short -term volatility. The growing domination leads directly to this violent action.
The domination of Bitcoin has now clearly exceeded the 60%mark, which was a cautious target in the past and suggests that more money is invested in the BTC than in Altcoins. As is currently the case, this type of dominance growth during a price peak generally strengthens Bitcoin’s grip on the largest narrative on the market. The ramifications are obvious: the force of the Bitcoin market is currently overwhelming.
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However, at $ 100,000, prices are now closer to an area of crucial psychological and technical resistance. The next realistic range is between $ 105,000 and $ 110,000 if a volume confirmation is obtained. Otherwise, if the long / short imbalance is still very high, a rejection could lead to a rapid drop from $ 92,000 to $ 94,000.
As evidenced by its price and domination, Bitcoin is currently, without a doubt, the first market predator. However, the following sessions reveal whether Bitcoin really establishes a new price paradigm or breaks before a correction given the tip of volatility and compensation for the field by liquidations.
