BITCOIN HITS LOCAL TOP? BULL RUN SLOWS DOWN

Over the weekend, Bitcoin was rejected from the critical resistance level at $43,500. According to a pseudonym analyst, as the BTC price dropped to its current levels, a significant player placed a “substantial resistance block.”

The chart below shows that the selling order is 1,562 BTC, or around $7 million. It also shows thick support for BTC as the bullish momentum fades.
In other words, Bitcoin might slow down, but the area around $40,000 could provide critical support for a potential bounce. The analyst stated on the increasing selling orders appearing on the books:

Massive resistance added on BTC Binance Spot. This is what a top looks like. A substantial resistance block of 1562 BTC has just arrived in the order books.