bitcoin:native has been ranging between 58k and 60.8k since last Thursday.

Longs and shorts seem to have reached a kind of balance—both sides have huge amounts of positioning, and liquidation is happening.
On an intraday basis, the long/short ratio favors longs over shorts. Clearly, most retail traders are willing to bet that the price won’t break the bottom line and will push higher.
To be honest, I can’t make sense of this. Longs and shorts are both calling the other side idiots—so it just comes down to which side makes the first move. I have a few long positions, and I’m hoping to get an opportunity to take profit.