Summary
- The $106,600 level for Bitcoin was mentioned as a major resistance.
- According to Glassnode, there is a sell wall of 31,000 BTC at that level.
- The holders have not made additional trades, making it a key short-term resistance to watch.
There is an opinion that Bitcoin (BTC) could face major resistance at the $106,600 level.
On the 19th (local time), Glassnode stated on X (formerly Twitter) that "Bitcoin's price surge halted below $106,600," adding, "This is because there is a sell wall of 31,000 BTC at that level."
Furthermore, they mentioned, "This sell wall was formed in December 2023, and the holders have not yet made additional purchases or sales," indicating that "it could become a key resistance level to watch in the short term."
As of 8:54 PM, Bitcoin is trading at $102,999 on the Binance USDT market, down 0.78% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
