Bitcoin In Stalemate With Liquidation Traps On Both Sides Of The Market

Bitcoin's price rose 5.07% last week, reaching a local peak of $108,000 before being rejected and stabilizing between $106,000 and $107,000. Crypto analyst KillaXBT highlighted key liquidation zones in the current Bitcoin market structure that will influence the next significant price move. According to Coinglass data, Bitcoin is trapped between long and short liquidation zones, indicating market indecision. On the 7-day chart, long positions are accumulated between $103,400 and $106,000, and a move below this range could trigger stop-losses and force liquidations. Conversely, short positions are clustered between $108,000 and $109,000, and a breakout above $109,000 could initiate a short squeeze. On the 30-day chart, more short-side liquidations are clustered between $108,300 and $109,000 than long-side liquidations between $103,000 and $106,000. However, short positions at $111,000 present a scenario where bulls could reclaim control if they push past this resistance. KillaXBT concludes that the current market structure suggests a delicate balance with high-leverage positions stacked both above and below current prices. The analyst warns traders to refrain from engaging the market until the highlighted liquidation zones are tested. Currently, Bitcoin trades at $107,451, with a slight 0.41% gain in the past day, and exchange outflows suggest strong market confidence.