Material Indicators studied data from the largest cryptocurrency exchange Binance And they reported that moving liquidity blocks above the current price holds the course in a certain range. This is a classic technique of manipulation, which large holders of the first cryptocurrency, “whales”, used it earlier.
“If you are wondering why Bitcoin has not yet been able to overcome the $ 87,500 mark, then the reason for suppressing the price from the Chita-Obman,” experts said.
Analysts suggest that support for recent many -month minimums of $ 76,000 is insufficient to form a strong market bottom.
It is important for traders to hold the support range at $ 84000- $ 85,000 in order to maintain the likelihood of further rally. The price of bitcoin will remain unstable for several weeks, experts summed up.
Earlier, representatives of the QCP Capital reported that the potential change in the policy of the US Federal Reserve (Fed) and new stimulating measures by China and Europe can cause an increase in the cost of bitcoin after correction.
Source: Bits
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