Bitcoin liquidation shakeout: $66K resistance, $61K support after $980M flush
Bitcoin liquidation shakeout quicken leverage reset after sharp two-way move from mid-$64,000 area go near $60,700, den rebound above $63,000. For less than 24 hours, total crypto liquidations be about $980 million, according to Coinglass heatmap data wey CryptoReviewing cite.
Price action details: Bitcoin drop from ~ $64,100 to ~ $60,700, liquidating about $456 million, then bounce back above $63,000 and trigger another ~ $524 million in liquidations. Main trader takeaway be say "liquidation zones" dey both above and below spot now, creating tight volatility corridor.
Upside liquidity and resistance: plenty TradingView maps show resistance/pivot levels around 64,234 (swept high reclaim), then 65,890, and wider pivot resistance at 66,247. Push into the ~$63,500–$66,000 upside pocket fit force more short covering.
Downside support: downside clusters first flag around 63,127–63,354, then 62,459. Wider liquidation support also mention near 59,150 and for broader 60,000–61,000 area (with extra levels down to 60,171/56,900/54,920 depending on model).
Bottom line for traders: this Bitcoin liquidation setup no be one-way signal. If price reclaim 64,234 and hold above low-$63,000 area e go increase chance to test 65,890 and 66,247. If e fail, the lower liquidation stack still dey play.
Neutral
Di ting article tok about wan Bitcoin liquidation shakeout wey comot crowd leverage for both long an short side dem. Dat kain thing dey usually cause short-term “stop-hunt” effect an fit make volatility rise, but e no mean say e confirm say trend go last.
For short term, traders go likely dey react around nearby liquidity magnets: resistance dem stack near 64,234 → 65,890 → 66,247, an supports cluster around 63,127–63,354, 62,459, an the broader 59,150–60,171/60,000–61,000 region. Dis setup dey often cause choppy trade windows till one side clear break.
For longer run, if market fit reclaim the swept high (64,234) an den hold above the key pivot (66,247), e go show say the shakeout don clear downside risk an allow fresh longs to enter. On the other hand, if e dey fail them resistance stack again and again, e mean say the liquidation-driven bounce dey fade, making downside liquidity still attractive.
Similar liquidation flushes for past cycles don often lead to “range-to-breakout” behavior: first na fast reset, den consolidation wey resolve when volume confirm the reclaimed/failed levels. For here, the clearest actionable thing na the level map rather than direction.