The Order Book orders below the price were executed (🔺 arrow) and seem to have held the move.
At the moment, there are no significant orders above the price, only below. That can change, but it's a good sign for now.
In this image, we can also see the Open Interest. Notice how it was at a higher level one month ago (yellow arrow 🟡), showing that leverage was increasing along with the price.
Now, with less attention on Bitcoin, the price is “able” to rise without leverage — which is a good sign! Let’s see if it stays that way...
Interestingly, despite the recent lack of excitement and low volatility, there's a large zone that will likely liquidate over-leveraged short traders.
This area is between $110,500 and $114,500, according to the liquidity map from the past 6 months.
That said, let’s stay patient. Don’t make impulsive decisions. One trade won’t make you rich.
Focus on learning price dynamics and avoiding mistakes. In the long run, Bitcoin will appreciate and reward you.
Links:
https://t.co/zehytMJVX1
https://t.co/cMcazeV8Z4