Bitcoin Faces Sell Wall Above $105,000, Strong Sell Wall at This Level Prevents Growth

Bitcoin Faces Sell Wall Above $105,000, Strong Sell Wall at This Level Prevents Growth

Cryptocurrency and stock prices are in a state of tension. Bitcoin is trying to break through the $105,000 mark, but a strong sell wall at this level is preventing its growth. Traders are pointing to strong selling interest around $112,000, which could signal further declines.

Sell Walls Prevent Bitcoin Growth

The price of BTC is currently around $102,927 and appeared to be on the verge of further growth during Thursday. However, a strong group of sell orders is visible in the market above $105,000, which is warning traders of a possible further decline. Skew, an analytics platform, called the situation “unsurprising” and pointed to increasing selling pressure.

“This tactic is often used to manipulate the price during Asian hours. If the price reaches $105,000, we expect withdrawal of orders and a possible drop to $98,000 or even $93,000,” experts warn.

Liquidity and possible decline

Traders warn that while demand is high, actual liquidity may not match expectations. Kyle Chasse, CEO specializing in Bitcoin, warned that increased supply below current prices could quickly destroy investor confidence. As a result, it is possible that Bitcoin may lose some of its gains and fall towards lower levels.

US stocks and important court decisions

The situation is also tense in the stock markets. The Supreme Court is waiting for a decision on the abolition of flat tariffs, which could significantly support the growth of stocks. Reports indicate that judges are skeptical of the current legislation, which could bring a positive signal to the markets.

Conclusion

Traders and analysts are watching the situation very closely. If Bitcoin manages to break through the strong wall above $105,000, its price could reach a new high. Conversely, if the pressure from sellers persists, a possible decline to lower levels awaits us. In the meantime, stocks are looking for direction, and important court decisions can significantly affect the entire market.

*This is not an investment recommendation.

The Coingarage Team