Bitcoin is currently hovering around $91,963, and this price level is highly significant — it sits right in the middle of a dense liquidation zone for both bulls and bears. A $300 upward move would enter a bear trap zone, while a $200 decline would trigger a bull trap. Tonight is destined to be a watershed moment.

From the liquidation data, the situation is already quite clear. The range between $93,000 and $95,000 has over $439 million in forced liquidations risk for shorts, with around $94,800 being the densest area for short liquidations. Below, the range from $91,000 to $90,000 has accumulated approximately $455 million in leveraged long positions, with $90,900 serving as the last stronghold for longs. Based on the distribution of liquidation intensity, short positions above $93,000 are significantly increasing, indicating many traders have taken on heavy leverage shorts at high levels; long liquidation intensity is concentrated below $91,000, showing longs are also bottom-fishing with high leverage. Both sides are waiting for a breakout signal.

The current situation is like two armies facing off, neither willing to make the first move. To go long, one needs to see if the price can volume-stably hold above 92,300. Once stabilized, a small position can be entered; a pullback that does not break below 92,000 is an opportunity, with a stop-loss set at 91,700, targeting 93,000 or even 94,800. Conversely, if the bears want to attack, they need to see if the price can volume-break below 91,700. A rebound that fails to surpass 92,000 can be shorted lightly, with a stop-loss at 92,300, targeting the 91,000 to 90,000 range.

The key time window is tonight from 8 PM to midnight, which is the golden period for liquidations, and volatility may suddenly spike. During this time, high-leverage positions are most vulnerable to targeted blow-ups — major players often fake a breakout at the edges of dense zones to clear stop-losses. So, avoid fighting against the trend blindly; that’s the fastest way to lose money.

Keeping an eye on the Coinglass liquidation chart can be helpful to understand the intentions of the big players. But the most important thing is to wait for the market to choose its direction — don’t bet prematurely. Both bulls and bears have already deployed heavy positions; now it’s about who has thicker chips and stronger resolve. Stay patient, let the data speak, and tonight’s market action is already written on this liquidation chart.