Oh the joy! Bitcoin (BTC) is stuck at $87,500, all thanks to some whales playing their manipulative games. 🐋🎩
Material Indicators, the trading gurus, dropped some knowledge on March 20 about why BTC/USD is in this mess.
“Spoofy the Whale” Takes the Spotlight
Bitcoin’s been clinging to $80,000 for dear life, hitting a whopping $87,500 on March 20. But guess what? It could’ve gone higher if it weren’t for those sneaky large-volume traders. 🤑
On Binance, the global trading playground, Material Indicators pointed out that these whales are moving around blocks of ask liquidity like it’s nothing—a classic trick called “spoofing.” Classic, indeed. 🙄
“Wondering why Bitcoin can’t break past $87.5k? Blame Spoofy the Whale for the price suppression,” they summed up on X. Brilliant.
A fancy chart shows liquidity lurking at $89,000, with everyone but the biggest whales scattering. 📊
Material Indicators also hinted that the recent low of $76,000 isn’t exactly a solid foundation. Comforting. 🙈
Bulls Battle for Trend Lines
Meanwhile, trader Daan Crypto Trades said the $84,000 zone is crucial for the bulls. No pressure. 🐂
“Bulls need to hang onto the $84K-$85K range to keep the party going. Otherwise, prepare for a wild ride down,” he explained on X. Thanks, Daan. 🎢
“The market’s trying to uptrend, but bulls better step up or it’s just a blip/short stop hunt.”
Daan’s also eyeing the 200-day SMA and EMA, trendlines that bulls are desperately trying to flip to support at $85,000. Fingers crossed. 🤞
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2025-03-21 09:46