Last Friday of month Bitcoin uses to find the max pain point between Puts (bears) and Calls (bulls). Anyway, on January’23 it was not like that.
On Deribit actually, max pain is at $24.000.
Discussion
In Coinglass, we see 9.500 BTC on $25.000, 8.000 BTC on $28.000 and 9.100 BTC on $30.000. At $24.000 there is 6.400 BTC. So, I don’t see a clear target price.
On Bitcoin Funding Rates we can see if people are positioning on longs (green) or shorts (red)
https://www.lookintobitcoin.com/charts/bitcoin-funding-rates/
On Bitcoin Open Interest we see the volume
Other good indicator of liquidations, Mariel shared on Twitter:
https://twitter.com/Mariellangsaez/status/1632493989172527108
Trying 15min it's quite good.
Don’t forget, look for where liquidity is. Liquidations map is a magnet for the price.
Finally some tips. Looking at volume and price
Price ⬇️ + Open interest ⬆️ = Shorts opening
Price ⬆️ + Open interest ⬇️ = Shorts closing/liqs
Note: Stock prices don’t always gravitate to a max pain price