Bitcoin rally set to continue after BTC whales build buy walls near $17.2K

Bitcoin rally set to continue after BTC whales build buy walls near $17.2K

Data show Bitcoin whales have set large buy orders in the $17,000 to $17,200 zone in order to protect the current BTC rally. According to analysis from Edward Morra, a popular Bitcoin trader, Coinbase and Bitfinex exchange now have major buy orders above $17,200. The emergence of major buy walls is important because on Nov. 18, BTC flash crashed to around $17,222. This shows that whales are using large buy orders to defend the $17,200 support area with strength.Bitcoin buy wall on Bitfinex. Source: Edward Morra, TradingLiteHow strong is the $17K support? Both whale clusters and exchange....


Related News

Brett, Pepe & GoodEgg: Whales Add GEGG To Their Explosive Portfolio After 180...

GoodEgg (GEGG) has recently caught the attention of investors and crypto whales alike, following a massive 180% rally in its price. While popular meme coins like Pepecoin (PEPE) and Brett (BRETT) continue to navigate a volatile market, whales are shifting their portfolios to include this new contender, GoodEgg, which currently sits at $0.00015 per token. […]

Bitfinex Whales Sold Heavily Into This 25% Bitcoin Rally

Bitcoin has undergone an extreme rally over the past few days, pushing from $19,000 to $23,800 at the highs. The cryptocurrency has since corrected to $23,000 as consolidation has begun after this massive thrust higher. Data shows that there were some whales that were not too excited about this rally. In fact, order book data […]

XRP Whales Go On $84 Million Buying Spree To Lock Down 140 Million Tokens

XRP whales look to have regained their confidence in the XRP token, with recent data showing an accumulation trend among these investors. This is significant as XRP eyes the $1 mark and as these XRP whales could play a role in facilitating such a price rally.  XRP Whales Buy 140 Million Tokens Crypto analyst Ali […]

There’s Millions of Dollars of Ask Orders Suppressing Ethereum Upside

Ethereum has undergone a strong rally over the past few weeks, moving higher with Bitcoin. But key market data suggests that the case for upside will be limited for the time being. For one, there are “monstrous sell walls” on Coinbase for the Ethereum chart. These walls should limit upside for the time being. Ethereum Market Data Suggests Price Could Drop Ethereum has undergone a strong rally over the past few weeks, moving higher with […]

Bitcoin whales selling to institutions as Grayscale adds 7,188 BTC in 24 hours

A huge sell wall at $20,000 may see a major transfer of wealth from whales to institutions based on current data. Bitcoin (BTC) whales appear to be selling to institutions as the supply squeeze tightens below $20,000.Data from various sources shows that while more BTC returned to exchanges this week, large-scale buyers are still creating more demand than supply can meet.Exchange inflows and Grayscale buy-insStatistics from on-chain analytics service Coin98 confirmed that investment giant Grayscale bought twice as much Bitcoin as miners could create in November. Grayscale Bitcoin buys....