$100k...But Not Today
We've set a fresh ATH...just 0.2% shy of the big round $100k number. Today we will dissect this sell-wall, seeking to gauge what is behind this market resistance.
G’day Folks,
What an absolute troll.
The current Bitcoin ATH is $99,800…just 0.2% shy of that fat round number of $100k we have been waiting on hitting for years.
Why on earth have we hit such strong resistance here?
Naturally, investors and traders love to sell near round numbers, and previous all-time-highs, especially when it’s been on the market’s radar for a long time. Sellers know there will be a boatload of demand running into these levels, which allows them to exit meaningfully large positions without too much issue.
In today’s post, I will explore some of the underlying dynamics of this $100k sell wall, as well as gauge what the chances are for another round of chopsolidation at this higher altitude.
I also have a few new charts for you, including a one helping us spot confluence across various price topping price models.
Let’s dissect this $100k sell wall.
📈 Reminder: you can find the charts from our articles on the Checkonchain Charting Website, and a guide in our Charts Tutorial Video.
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