Bitcoin tapped $25,000 for a third time on Feb. 19 as an all-important weekly close approached.
Analysis warns over whale moves
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $25,038 on Bitstamp.
Out-of-hours trading continued to see bulls pushing for a support-resistance flip of the key level, this marking the start of a major resistance cloud involving several long-term trend lines.
With everything to play for into the weekly close, the atmosphere among traders was tense.
“Sunday price movement can typically only be trusted towards daily close. Other than that, just gotta hope it stays in current range,” popular trader Josh Rager acknowledged on Twitter.
Analyzing Binance order book activity, monitoring resource Material Indicators warned that large-volume players were still manipulating spot price by moving bid and ask levels.
“The notorious BTC buy wall moved AGAIN!” it wrote in a previous update.
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“It appears they are trying to push price into their own asks. If they can attract enough buyers to clear $25k there’s little friction to $26k and thin air to $30k. No clue how long they can do this. Happy to play along.”