{"id":376748,"date":"2019-04-01T20:00:10","date_gmt":"2019-04-01T20:00:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=376748"},"modified":"2024-06-11T07:38:41","modified_gmt":"2024-06-11T07:38:41","slug":"bitcoin-has-a-massive-80m-sell-order-but-breaching-it-could-lead-to-a-rally","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-has-a-massive-80m-sell-order-but-breaching-it-could-lead-to-a-rally\/","title":{"rendered":"Bitcoin Has a Massive $80M Sell Order, But Breaching it Could Lead to a Rally"},"content":{"rendered":"

All eyes are on Bitcoin<\/a> as it brushes up against powerful downtrend resistance, while straddling the top of the current trading range the cryptocurrency has been locked in throughout all of 2019. While a number of crypto analysts and traders are anticipating a rally, a massive sell order has appeared that is currently keeping prices at bay.<\/span><\/p>\n

However, should Bitcoin price break through the sell wall, it could provide the rocket fuel for the potentially rally to over $5,000 per BTC that analysts are calling for.<\/span><\/p>\n

Massive $80M Sell Wall Keeps Bitcoin Price at Bay<\/span><\/h2>\n

Crypto holders with massively large amounts of assets or capital are affectionately called whales<\/a>, for their ability to create massive price movements whenever they surface. Oftentimes, these whales place extremely large \u2013 often millions of dollars worth on order \u2013 orders called sell walls, with the goal of holding price to a certain area, or to prevent price momentum from breaching resistance.<\/span><\/p>\n

\n

$BTC<\/a> There is now an $80 million wall above the price action once again. That is a hell of a wall and fuel to take us higher. This is not a guarantee that the price will go up but it is a guarantee that there are plenty of sellers to move the price up if there are enough buyers. pic.twitter.com\/ozbTyjwSuy<\/a><\/p>\n

— Bleeding Crypto (@Bleeding_Crypto) April 1, 2019<\/a><\/p><\/blockquote>\n