NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

There’s a $15 Million Bitcoin Sell Wall Stopping $11,500 From Breaking

Nick Chong
Nick Chong
1 year ago
3 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin is pushing higher after correcting as low as $10,600 on Tuesday. As of the time of this article’s writing, the asset trades for $11,200 — a price point nearly 20% higher than that seen seven days ago and one 3% higher in the past 24 hours.

Analysts believe that this small rally is a precursor to a break of the ongoing consolidation to the upside.

Yet according to order book data shared by a trader, Bitcoin may have trouble resolving higher as it faces strong resistance.

Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold Bitcoin, DeFi Still in Vogue

Bitcoin Could Have Trouble Breaking Past $11,500

On Monday, Bitcoin’s rally topped out at $11,500. It isn’t clear why that is but that level has been a historically important technical level for the leading cryptocurrency.

As BTC has begun to inch higher over recent hours, traders are looking for Bitcoin to break past $11,500 to sustain the uptrend.

According to order book data shared by a trader, this may be a tall ask of buyers, though. According to a chart of BTC’s recent price action with the Order Book Dominance Bands indicator, there is approximately $15 million worth of sell orders from $11,300-11,500 preventing upside. This data pertains to Bitfinex.

Image

Chart of BTC's recent price action with the order book dominance bands from trader "Coiner-Yadox" (@yodaskk on Twitter). Custom chart from TradingLite.

There was no order book data from other crypto exchanges shared by the trader.

Bitcoin could rocket past these order book resistances if there is enough buying volume. But it’s important to note Bitfinex order book has had historical accuracy in calling BTC price action.

The same trader shared the chart seen below a bit earlier. It shows that the Bitfinex order book predicted many of Bitcoin’s swing moves over the past five months.

Image

Chart of BTC's recent price action with the order book dominance bands from trader "Coiner-Yadox" (@yodaskk on Twitter). Custom chart from TradingLite.

Bulls in Control?

Some are ignoring the order book, though, arguing that from a pure charting perspective, Bitcoin bulls are in control.

As reported by NewsBTC, one trader shared that as long as BTC holds $10,500, its outlook is bright:

“$btc consolidating above a pretty key breakout level. price contracting, volume declining, seems bullish, continuation soon,” he wrote, referencing the macro importance of $10,500. $10,500 is the price point that Bitcoin failed to cross above on three separate occasions over the past 12 months: once in October, once in February, and once in early June.

Image

Chart of BTC's recent price action by trader SmartContracter (Twitter handle). Chart from TradingView.com

The trader who made this assertion is the same who predicted that Bitcoin would bottom 2018’s bear trend at $3,200.

Related Reading: On-Chain Metric Signals the BTC Market Isn’t Overheated: Why This Is Bullish
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from Tradingview.com
There's a $15 Million Bitcoin Bull Wall Stopping $11,500 From Breaking
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum treasuries overstijgen $17B - $10.000 ETH in 2025 nogsteeds mogelijk?

Ethereum treasuries overstijgen $17B – $10.000 ETH in 2025 nogsteeds mogelijk?

In de afgelopen 24 uur steeg Ethereum met 8,3%. Ook zien we dat de Ethereum treasuries van verschillende organisaties in...

Lars Diederiksen 11 hours ago
Bitcoin price

Bitcoin Price In A Trend Shift? Here’s Why $118K Might Be Vital For A Bullish Return

The price of Bitcoin has struggled to make any real headway since reaching the former all-time high around $123,800 in...

Opeyemi Sule 11 hours ago
Bitcoin

Bitcoin On-Chain Model Shows Critical Support At $104,000-$108,000 – Details

Prominent analytics firm Glassnode has shared new on-chain insights into the Bitcoin market, pointing to the next major support zone...

Semilore Faleti 14 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum price

Ethereum Price Breaks All-Time High — Analyst Sets $7,000 As Next Target

Opeyemi Sule 4 hours ago
Chainlink

Chainlink Eyes Fresh Upside As Oversold Bounce Sets Stage For Bullish Continuation

Godspower Owie 7 hours ago
Ethereum

Crypto Founder Predicts Ethereum Price To Touch $20,000 As Fed’s Powell Turns Dovish

Scott Matherson 8 hours ago

Premium Sponsors

Press Releases

  • How Binance and ETHRANSACTION Are Revolutionizing Bitcoin...

    3 hours ago
  • miner

    XRP Mastercard launches on the 25th, Gemini supports...

    11 hours ago
  • Bitcoin

    Bitcoin and XRP continue to fluctuate, and cloud mining...

    12 hours ago
  • ETHRANSACTION launches mobile app for mining BTC, earning...

    1 day ago
  • A legjobb megvásárolható altcoinok, amikor a Gemini csatlakozik a Coinbase-hez és a Bullish-hoz a Wall Streeten

    A legjobb megvásárolható altcoinok, amikor a Gemini...

    1 day ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.