One more day and the Bitcoin price action rally remains favorable this if we take into account that in the last 24 hours it has remained above the $60,000 level which somehow creates some confidence among bullish investors and traders.
Now, beyond the favorable momentum of Bitcoin price action it is important to note that Bitcoin order book movements arouse suspicion, as it is marked by significant liquidity on the sell side, but this could disappear at any time, according to analysts.
According to information disclosed by William Suberg, "Bitcoin fell below USD 60,000 at the open of Wall Street on August 9, as traders stood by in expectation of unreasonable whale moves."
According to Suberg, "Now down 3% against the daily open, the BTC/USD pair faced significant resistance above the USD 62,000 mark, and analysis suggests that this could be an intentional manipulation."
On the other hand, according to popular trader Daan Crypto Trades "This could temporarily cool volatility for a while as the price is trapped between these walls. Keep in mind that the walls can be knocked down at any time. Some consolidation makes sense it seems to me."
SOURCES CONSULTED
Cointelegraph. Bitcoin whale games get traders nervous as 12K BTC appears for sale. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
