Bitcoin faced a serious challenge hitting $100,000 on Nov. 22 as $300 million in sell-side liquidity blocked the way.
Data from Cointelegraph Markets Pro and TradingView showed BTC price downside taking over at the Wall Street open.
A trip toward the key six-figure mark earlier ended in defeat as sellers lined up to prevent BTC’s price from climbing higher — a common feature for Bitcoin around key psychological levels.
“FireCharts shows a massive Bitcoin sell wall compressed between the $99.3k – $100k range,” trading resource Material Indicators confirmed in its latest post on X.
Others considered where a potential deeper price retracement may end up, with popular pseudonymous trader Crypto Chase eyeing $90,000 in what he called the “optimal scenario.” Crypto Chase explained this “rinse” would be “healthy price action” to continue past $100,000.
Fellow pseudonymous trader CJ had a higher target focused on the mid-$90,000 range.
Source: Cointelegraph
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