At the moment, Bitcoin is trading around $79,500–80,000 behind a fairly dense wall of sellers.
According to the order book, roughly $122 million in sell orders ($BTC ) is concentrated in this area. That’s why a break above $80,000 may turn out to be more interesting than the move toward that level itself.
If buyers can absorb this volume and hold above $80K, some sellers will be forced to move their orders higher—which could make the move accelerate.
However, if liquidity pushes the price back again, it will become clear that sellers still control this zone.
Today, $79,500–80,000 is arguably the main level in the BTC order book.
According to the order book, roughly $122 million in sell orders ($BTC ) is concentrated in this area. That’s why a break above $80,000 may turn out to be more interesting than the move toward that level itself.
If buyers can absorb this volume and hold above $80K, some sellers will be forced to move their orders higher—which could make the move accelerate.
However, if liquidity pushes the price back again, it will become clear that sellers still control this zone.
Today, $79,500–80,000 is arguably the main level in the BTC order book.
