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Thursday, January 5, 2023

BTCUSD pooling orders near bottom

BTCUSD pooling orders near bottom

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Looking back to the start of BTCUSD to present, we can see that a large pool of sell orders are stacking up at the bottom of it current range and a large amount of sell orders between current price and 30000. There will have to be a huge in flux of buy orders to get BTCUSD moving up again reaching the 30k or higher price. With such a stack of sell order I believe it will be difficult for any significant move up. Currently it is stuck in consolidation but I am currently see BTCUSD sliding down and creating new lows before reaching 30K again.

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