Bitcoin: Drops Below $74,000 With $230M Longs Liquidated
Bitcoin drops below $74,000 as $230 million in levered longs liquidated in 60 minutes, with 4h chart RSI at 23.07 and bearish MACD death cross.
SourceAnalysis
Bitcoin fell below $74,000 after $230 million in leveraged long positions were wiped out within 60 minutes.
Price action on the 4h chart shows a bearish structure with price testing the lower Bollinger band support at $73399.97 while EMA50 at $76454.55 and EMA200 at $77150.08 act as overhead resistance. RSI(14) at 23.07 signals oversold conditions yet MACD remains deeply negative at -783.96 confirming the death cross, suggesting any bounce may stall before retesting lower support levels amid ongoing deleveraging pressure.
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