Bitcoin longs pile price has a chance of reaching new highs, but traders using leverage should be careful. If the price doesn’t hold above $117,000, a long squeeze could occur.
Trading volume has increased by 24% since yesterday, and there is now approximately $84.10 billion in leverage in the futures market. If the price falls, all these positions could be closed out, resulting in significant losses.
Currently, Bitcoin’s price is $116,360. If it moves above $117,091, the risk will be reduced. BTC is currently being supported by whales and bulls. Indicators are also looking mostly positive.
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People Also Ask – Bitcoin longs pile:
What is the current scenario for Bitcoin longs pile?
BTC is currently testing near $117,082. The middle Bollinger Band is at $115,823. Many traders are holding long positions here.
What is a long squeeze and why could it happen?
If BTC falls below $115,823, long holders will sell their positions in panic. Because leverage and funding rates are high, this could trigger quickly.
How did BTC get here?
BTC rose 5% in the last 24 hours and reached near $117,082. But this level is currently proving difficult to break, and this has eliminated the risk of a squeeze.
What will happen if the squeeze is triggered?
If BTC falls below $115,823, the price could fall sharply to $112,000 or even below. However, if it breaks above $117,082, it could even go above $120,000.
What should I do today?
Be careful. Closely monitor the $115,823–$117,082 range. Check real-time charts and seek expert advice as the market is currently very sensitive.
