The Likely Results Of BTC ‘Flush’ Fall By Cointelegraph

Bitcoin Price Stuck at $ 32K – $ 35K: Likely Results from BTC ‘Flush’ Drop

In the short term, the crucial technical resistance level is $ 35,500. Over the past 24 hours, you have continuously rejected at that level. When Bitcoin rose to around $ 35,500 on Binance on Jan 13, it saw an 8% drop shortly thereafter, indicating there is strong selling pressure. A pseudonymous trader known as “Byzantine General” described that there are additional sell orders on Coinbase in the range of $ 36,500 to $ 37,000, saying “I am not taking bets yet” and adding that he is “casually buying funds with spot”. There is significant uncertainty in the market due to large price swings between $ 31,000 and $ 35,000 with no bearish breakouts or invalidations. The trader also noted that Bitcoin is currently at “VWAP” resistance, with high selling pressure at key resistance levels. Continue reading on Coin Telegraph

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