Bitcoin bulls avoid further retests of round-number levels as support, while Ethereum finally wakes up.
Bitcoin circled $96,000 on Nov. 29 as a “fantastic” support retest gave way to consolidation.
Bitcoin holds ground after bulls protect $90,000
Data from Cointelegraph Markets Pro and TradingView showed Bitcoin BTC$95,943 price volatility cooling after experiencing rapid gains on Nov. 27, ending in a close just below $96,000 on Bitstamp.
BTC/USD refused to cave to selling pressure, leaving $90,000 unviolated and instead respecting a new support level forming over the past two weeks.
“Fantastic retest of $91,000 as support,” trader and analyst Rekt Capital said, striking a positive tone on the latest market moves on X.
“Now all about breaking the trendline (blue) to get back to $100,000.”
Fellow market participant The Kingfisher, known for covering liquidation levels on exchange order books, noted liquidity above and below the spot price being hunted on the day.
The latest data from monitoring resource CoinGlass confirmed that the bulk of ask liquidity was laddered above $97,000 at the time of writing.
“High leverage may trigger potential liquidations in the short term,” IT Tech, a contributor at on-chain analytics platform CryptoQuant, told X followers while responding to the data.
Earlier, Cointelegraph reported on manipulatory moves by large-volume traders impacting short-term BTC price performance.
Source: Cointelegraph
Recent Comments