Today’s Market

Figure 1: On the order book, the prices above are all spot sell orders looking to offload.
In the last line of yesterday, I mentioned that 72k at least wouldn’t hold from last night to this morning, right... Because there are over 300 spot sell orders from Coinbase at 72k. That wave is still ongoing...
Whether it can be absorbed depends on the sentiment in Europe and America...
Currently, there is a large wave of spot sell pressure around 72k, and above that, between 74k and 75k, there’s also a huge wave of spot sell pressure... It takes very good sentiment to push through.
(This is also the source of the order book imbalance color band mentioned yesterday)
That is, Figure 2
The demand for buy orders below is around 70k. At the same time, the contract is also in a similar range (top right of Figure 1)
Looking at Figure 3, whale tracking...
No need to explain too much... Everything is shown in the chart... Currently, 72k to 75k is the range where whales are placing orders to offload...
Their entry range was roughly 66-67k before...
Figure 4: From stop-loss and liquidation liquidity, the corresponding range is similar to the order book situation...
The blue box indicates the potential range for a short squeeze.
The green box indicates the potential range for a long squeeze.
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So, the focus for low buy positions is around 70k, 69k... (similar to yesterday)
High short positions are still around 72k, or above the previous high from yesterday...
Anyway, the ranges where bulls and bears are interested are all clear, and the specific entry depends on whether the entry/exit model gives an opportunity...
Alright, I’ll keep coding...