$BTC has finally pushed through the heavy $85K sell wall after several days of repeated attempts.
Glassnode had been tracking significant sell-side liquidity around the $85K–$85.5K area, which acted as an important short-term hurdle for Bitcoin.
With that liquidity now largely absorbed, the order book above $85K appears thinner. That could give price more room to move if fresh buying demand continues to come in.
The key question now is whether BTC can hold above $85K and turn the former resistance area into support.
For me, this is an important market-structure development to watch rather than a guarantee of further upside.
DYOR. NFA.
Glassnode had been tracking significant sell-side liquidity around the $85K–$85.5K area, which acted as an important short-term hurdle for Bitcoin.
With that liquidity now largely absorbed, the order book above $85K appears thinner. That could give price more room to move if fresh buying demand continues to come in.
The key question now is whether BTC can hold above $85K and turn the former resistance area into support.
For me, this is an important market-structure development to watch rather than a guarantee of further upside.
DYOR. NFA.
