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Currently, Bitcoin has two important liquidation standards that sit between them, and it is very important to know which way the price will go in the future. The Binance BTC/USDT Liquidation Heatmap highlights key levels around $68,900 and $66,000 that are likely to influence price movements.
As BTC approaches these thresholds, which are important liquidation points, the risk of increased volatility increases. Depending on which level is tested first, BTC could breakout or breakout under pressure from both directions. The higher level, around $68,900, corresponds to a significant resistance level.
If Bitcoin crosses this barrier and the price rises sharply, a new bullish wave could begin. However, a drop below $66,000 could trigger a chain reaction of selling, pushing the price down and potentially causing a significant decline. Based on the given price chart, it is clear that Bitcoin has been facing difficulty breaking through the $67,970 mark recently.
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The moving average line on the chart is also narrower. In particular, the 50, 100, and 200 EMAs are all converging. This convergence is often preceded by sharp changes in price, either rising or falling. Even more worrying is the downward trend in volumes, indicating hesitation among traders.
This could suggest that despite a local uptrend in Bitcoin, strong buying momentum could prevent it from breaking out of this narrow range. Once broken down, the key support level at $66,000 will be tested, and depending on its success, it could either act as a safety net or trigger a sharp decline.
Volatility is expected to spike as these thresholds approach, and the next move will likely be significant. Traders should be prepared for swings in either direction depending on how Bitcoin reacts to pressure between these key points.
