leveraged longs are gaining confidence in the $28.6k support level, so it's probably a good time to take a look at where to expect margin pressure.
we had resistance where 3x buying pressure drops off and 3x selling pressure picks up, but that was quickly turned to support. 4x and 5x short pressure is likely to ramp up if BTC continues to advance.
the 2x long level is ultimately king, which would put the target around $57.2k.
margin pressure levels have proven quite accurate in the past when support/resistance levels are strong and clear. but obviously this is just one of many forces at play here, so take it for what it's worth.
we had resistance where 3x buying pressure drops off and 3x selling pressure picks up, but that was quickly turned to support. 4x and 5x short pressure is likely to ramp up if BTC continues to advance.
the 2x long level is ultimately king, which would put the target around $57.2k.
margin pressure levels have proven quite accurate in the past when support/resistance levels are strong and clear. but obviously this is just one of many forces at play here, so take it for what it's worth.
