Bitcoin is worth $ 103,000 – does the long qualifiers rise, a sign of a major shift? star-news.press/wp

• BTC continued trading in a narrow range of 103 thousand dollars and 106 thousand dollars.
• Bitcoin’s long liquidation dominance increases by 10 % in seven days.

Since reaching the highest local level of 108ka a week ago, Bitcoin (BTC) has struggled to maintain upward momentum. Over the past day, BTC decreased sharply, as a decrease of $ 102,000, which led to huge long qualifications.

Bitcoin long liquidation nails

According to Cryptoquant analyst Axel AdlerBitcoin’s long liquidation dominance increased from 0 % to 10 % during the past week. Regardless, BTC continued trading in a narrow range between 103 thousand dollars and 106 thousand dollars.

This increase indicates the liquidation of the long situation without a sharp price shattering to the constant purchase support.

Source: Cryptoquant

Usually, when the liquidation of long positions is increasing, it means that investors who are betting on prices on the gathering are forced to get out of the market. The rise was especially extremist during the past day, as prices fell to less than 102 thousand dollars.

It is worth noting that the long BTC qualifiers reaches 2.2 km BTC, which is the highest level last week. This indicates that the markets have seen panic in selling panic along with forced closure with the continued drop in prices.

Source: Cryptoquant

When Longs are filtered in this way, short pants take over the markets, which leads to a negative financing rate. This indicates that traders are overbiting prices to decline more.

Source: Cryptoquant

What is the following for BTC?

As of the writing of these lines, Bitcoin was trading at $ 103,763. This means that prices have stopped decline, and the market is offered in risky sites.

Under these circumstances, if the long liquidation dominance increases by another 5-7 %, there will be a high possibility of washing the bears.

The higher domination of the domination can see that the bears start from the market if a reflection appears.

Such a scenario will become a turning point and indicate a reflection in the morale of the future market for bulls. Therefore, after recovering the prices from the last decline, the next reasonable thing to expect is a short pressure.

Source: Cryptoquant

Buyers began to return to the market with the height of short pants, as evidenced by the percentage of the positive Taker selling. R.The demand for short pants will lead to the organic demand for Bitcoin, and the King Coin coin can restore $ 104,577.

The negative side can only resume if they return the sellers to the market, which leads to another decrease of about 102 thousand dollars.