World

Bitcoin

Million

Resistance

Trillion

<p><a href="https://twitter.com/rovercrc/status/1728036746389229997?t=8A7C7ZGIl5aDSQszXuo2_w&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Crypto Rover</a>, a well-known figure in the cryptocurrency community, has identified a significant obstacle that Bitcoin (BTC) is currently facing. According to Crypto Rover, the major resistance lies in the price range of $37,000 to $38,000. This level has proven to be a formidable barrier for BTC, hindering its ability to break out and establish new highs. For the past 15 days, BTC has been consolidating within the range of $35,000 to $38,000, struggling to overcome the selling pressure at these levels.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="553" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-1024x553.png" alt="" class="wp-image-384316" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-1024x553.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-300x162.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-767x414.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-1536x829.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-2048x1106.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-278x150.png 278w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-648x350.png 648w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674-788x425.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-674.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><strong>A Massive Sell Wall on Binance Futures</strong></p>
<p>Daan Crypto Trades, another influential voice in the crypto space, s<a href="https://twitter.com/DaanCrypto/status/1728028373786800336?t=dDT2XHTG_C7c8V2YDvTrhQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">hares an interesting observation</a> regarding the liquidity on Binance futures. Daan Crypto Trades points out a staggering $500 million sell wall on Bitcoin’s Binance futures market.</p>
<p>A sell wall refers to a large volume of sell orders placed at a specific price level, creating significant resistance for buyers. In this case, the sell wall presents a formidable obstacle for BTC to overcome.</p>
<p>Despite the daunting nature of such a sell wall, Daan Crypto Trades suggests that these walls often get “eaten through.” This means that the high selling pressure may eventually be absorbed by buyers, leading to a breakthrough and potentially triggering a bullish rally. Additionally, Daan Crypto Trades notes that this resistance level provides an opportunity for traders with massive short positions to close out their positions, potentially leading to increased buying pressure.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="722" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-1024x722.png" alt="" class="wp-image-384308" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-1024x722.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-300x212.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-767x541.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-1536x1084.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-2048x1445.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-213x150.png 213w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-496x350.png 496w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673-788x555.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-673.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><strong>The Battle Between Bulls and Bears</strong></p>
<p>The presence of a massive sell wall on Binance futures highlights the ongoing battle between bulls and bears in the Bitcoin market. Bulls, who anticipate a price increase, are met with significant resistance from the sell wall, preventing BTC from making substantial gains. On the other hand, bears, who expect a price decline, may see this as an opportunity to maintain their short positions or even add to them.</p>
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<p>The outcome of this battle will determine the short-term price movement of BTC. If the sell wall is eventually overcome, it could signal a shift in momentum and potentially lead to a breakout above the resistance level. Conversely, if the sell wall remains intact, it could result in continued consolidation or even a bearish reversal.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoins-price-faces-massive-resistance-at-this-price-as-500-million-btc-sell-wall-builds-on-binance-alone/" rel="noopener noreferrer nofollow">Bitcoin’s Price Faces Massive Resistance at This Price as $500 Million BTC Sell Wall Builds on Binance Alone</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin’s Price Faces Massive Resistance at This Price as $500 Million BTC Sell Wall Builds on Binance Alone

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