BTCUSDT Analysis by @cryptomoeng

The analyst discusses a short position on BTCUSDT, entered at approximately 84929.1, scaling it up to $1.5 million. A primary focus is on price levels that would invalidate the current bull market, pointing to a strategy of exiting the short position if key resistance is broken and confirmed as support, even if it means incurring a $1-2,000 loss due to paid funding fees. A critical level to monitor is around 84758, near previous high points on the bitcoin chart; failure to hold this level triggers an exit. Analysis includes a Bitcoin liquidation heat map revealing potential long liquidations forming below $83,000, levels to be avoided. A possible weekly candle closure and on the $76,000 level being a key level to invalidate bullish structure, with long term holders not selling, also, a signal of bullish global liquidity. The global economic scene also matters in the equation because that will affect the potential rallies.