Bitcoin buyers have absorbed a major sell wall near $85,000 after nearly a week of repeated attempts, according to Glassnode.
The remaining sell orders around the key price level appear to have been withdrawn.
Glassnode said sell-side liquidity above BTC has decreased, potentially reducing immediate resistance to further gains.
With fewer sell orders overhead, the analytics firm believes Bitcoin's upward price movement could accelerate if buying demand persists.
Bitcoin has cleared a significant concentration of sell orders around $85,000 after buyers spent nearly a week testing the key resistance level, according to on-chain analytics firm Glassnode.
#bitcoin
#BinanceSquareTalks
The remaining sell orders around the key price level appear to have been withdrawn.
Glassnode said sell-side liquidity above BTC has decreased, potentially reducing immediate resistance to further gains.
With fewer sell orders overhead, the analytics firm believes Bitcoin's upward price movement could accelerate if buying demand persists.
Bitcoin has cleared a significant concentration of sell orders around $85,000 after buyers spent nearly a week testing the key resistance level, according to on-chain analytics firm Glassnode.
#bitcoin
#BinanceSquareTalks