Bitcoin near $87,800… and the next resistance lies ahead
👀 Bitcoin near $87,800… Is breaking through sell orders enough to keep the rally going?
Buyers broke through a wall of sell-side liquidity. Bitcoin posted new October highs near $87,800.
• The breakout cleared a block of sell orders.
• The area just above has become the next resistance barrier.
💧 Market and liquidity impact:
My reading is that breaking through the sell wall reflects strong demand at that moment, but on its own, it isn’t enough to confirm that the rally will continue; buyers’ ability to absorb the next wave of sell orders could determine the near-term direction.
🎯 Most affected: Bitcoin
Do you expect Bitcoin to break through the next resistance, or will selling pressure return? 👇
$BTC #Bitcoin #Crypto #Security
👀 Bitcoin near $87,800… Is breaking through sell orders enough to keep the rally going?
Buyers broke through a wall of sell-side liquidity. Bitcoin posted new October highs near $87,800.
• The breakout cleared a block of sell orders.
• The area just above has become the next resistance barrier.
💧 Market and liquidity impact:
My reading is that breaking through the sell wall reflects strong demand at that moment, but on its own, it isn’t enough to confirm that the rally will continue; buyers’ ability to absorb the next wave of sell orders could determine the near-term direction.
🎯 Most affected: Bitcoin
Do you expect Bitcoin to break through the next resistance, or will selling pressure return? 👇
$BTC #Bitcoin #Crypto #Security