Bitcoin Fights Whales Above $22,000 as BTC Price Faces US CPI Data
Bitcoin bulls are now attacking the "final" major resistance cluster below $25,000, according to on-chain data.
Market UpdateBitcoin (BTC) continued to struggle against major resistance on September 13 as markets braced for US inflation figures.
"Serious" whales present new hurdle to BTC priceData from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it sought to hit $22,500.
The bulls had been trying to overcome a wall of interest from sellers in the range just above $22,000, which proved particularly stubborn and led to an overnight consolidation phase.< /p>
On-chain monitoring resource Material Indicators highlighted the struggle in a screenshot of the Binance BTC/USD order book the previous day.
Let's see if they're hungry enough to munch on $13M in #BTC asking for cash.#FireCharts pic.twitter.com/GY3giu7Mh8< /p > — Materials Indicators (@MI_Algos) September 12, 2022
To fellow analytics platform Whalemap, it's no wonder the current range has been a sticking point for the bulls.
“The new area to watch: $22,780-$23,400,” the Whalemap team told Twitter followers:
"This one is serious BUT it's the last in our current range of 19,000-25,000 million."
Bitcoin bulls are now attacking the "final" major resistance cluster below $25,000, according to on-chain data.
Market UpdateBitcoin (BTC) continued to struggle against major resistance on September 13 as markets braced for US inflation figures.
"Serious" whales present new hurdle to BTC priceData from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it sought to hit $22,500.
The bulls had been trying to overcome a wall of interest from sellers in the range just above $22,000, which proved particularly stubborn and led to an overnight consolidation phase.< /p>
On-chain monitoring resource Material Indicators highlighted the struggle in a screenshot of the Binance BTC/USD order book the previous day.
Let's see if they're hungry enough to munch on $13M in #BTC asking for cash.#FireCharts pic.twitter.com/GY3giu7Mh8< /p > — Materials Indicators (@MI_Algos) September 12, 2022
To fellow analytics platform Whalemap, it's no wonder the current range has been a sticking point for the bulls.
“The new area to watch: $22,780-$23,400,” the Whalemap team told Twitter followers:
"This one is serious BUT it's the last in our current range of 19,000-25,000 million."
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