Traiders suspected manipulations in the book of BTC orders

Over the past six weeks, bitcoin liquidity has significantly decreased in both directions. The largest order clusters are at $ 112,000 and $ 120,000, the trader drew attention to the Daancrypto nickname.

“Follow these areas, since they often serve as zones of local turn or magnets when the price is approaching them,” the investor noted.

The co -founder of Material Indicators, Kit Alan suggested that the large volumes of liquidity in the book of orders, including “fall protection” at the level of $ 105,000, may turn out to be a form of manipulation of prices.

“Two movements do not form a trend […]. It is too early to make any assumptions, but the impact on the direction of the price will be the same. Demand reduction provokes a decrease in quotations. Follow the news, ”he added.

According to the analyst under the nickname of Thekingfisher, Bitcoin can “turn red” even more. This guarantees serious consequences for altcoins.

The liquidation area with a significant volume is at $ 102,349, the expert said. It also expects a small correction that eliminates the shortists with a high levereig.

“The impulse remains stable. Nevertheless, we can observe a gradual cascading exhaustion from block to block. Although the main cryptocurrencies remain stable, the fall of bitcoin by 5% can provoke a drop in altcoins by 10-30%, ”Thekingfisher emphasized.

The trader under the pseudonym Rektcapital noted a positive moment: a similar type of correction took place at the same moments of the cycle in 2017 and 2021. According to his observations, each rollback preceded growth to new historical maximums.

At the time of writing, the first cryptocurrency is traded about $ 113,500, according to Coingecko. Now the main attention of investors is focused on the publication of the protocols of the July meeting of FOMC and the performance of the head of the Fed Jerome Powell in Jackson-Houl on August 20 and 22, respectively.

“The rates are high: it is necessary to determine the path of monetary policy while the markets are balanced between a decrease in inflation and the growth of risks in the labor market,” wrote QCP analysts.

According to CME FedWatch Tool, traders assess the likelihood of reducing the Fed’s rate by 25 basic points on September 17 by 85%.

K33 Research analysts warned of impending volatility against the background of the growth of ETH/BTC to the annual maximum.

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Source: Cryptocurrency

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