📈 BULLISH OUTLOOK
Over $120 million worth of bets against Bitcoin got wiped out in a single push. That is a lot of people who guessed wrong at exactly the wrong moment.
On October 4, 2026, Bitcoin buyers pushed the price up to nearly $87,800, setting a new high for October. To get there, they had to punch through a heavy layer of sell orders that traders call "ask liquidity," which basically means a big pile of people waiting to sell at those prices.
As the price climbed, traders who had bet that Bitcoin would fall got caught on the wrong side. Their positions were automatically closed, a process called liquidation. According to data tracked by CoinGlass, more than $120 million in short positions were liquidated during this move. Now, analysts say the price zone just above current levels is the next resistance hurdle, meaning sellers could show up again right there.
If you already hold Bitcoin, this kind of move is encouraging. Buyers had enough conviction to break through a wall of sell pressure, and a wave of forced liquidations can actually add fuel to a rally because those short sellers have to buy back their positions to close them, which pushes the price even higher.
That said, the area just above $87,800 is now flagged as a resistance zone. That means the price could stall or pull back there before deciding which way to go next. It looks bullish right now, but resistance zones have a habit of reminding people that nothing goes straight up.
Keep an eye on whether Bitcoin can close a daily candle above $87,800 on decent trading volume. If it does, the next resistance levels higher up come into focus. If it gets rejected and slides back, the price zone around $85,000 would likely be the first area buyers try to defend.
A short position is a bet that the price will go down. When the price goes up instead, the trader can lose money fast, and the exchange automatically closes the trade to limit losses, which is called a liquidation.
Breaking through heavy sell orders and triggering over $120 million in liquidations does show strong buying pressure. But analysts note that the area just above current prices is already a new resistance level, so caution is still smart.
If buyers cannot push past that resistance zone, the price may pull back and consolidate for a while. A pullback is not necessarily bad, as it can set up a stronger push higher later on.
Access crypto USDT perpetual futures on the world's largest exchange.
🚀 Open Binance Account 📡 More Signals ✈️ Join Telegram