If the price drops below $2,199, the total liquidation strength of long positions on mainstream centralized exchanges (CEX) will reach $794 million. Conversely, if the price breaks through $2,426, the total liquidation strength of short positions on mainstream CEX will reach $742 million.

You’ll notice that the liquidation amounts for longs and shorts are quite similar; it all depends on which way the market ultimately moves, and whether retail investors can withstand the pressure.

Last week, there was a frantic liquidation of longs, and this week, shorts are being liquidated. In the coming week, there might be a double liquidation of both longs and shorts, leaving the market light and ready for a surge.