2021-05-14 01:46:13
BTC/USDT
The market continues to be under selling pressure. Sellers come out with sales in large volumes, which can be seen both on the chart and by clusters.
The price slipped to the level of $ 46,000 overnight, as at that moment there was not enough demand from buyers to absorb the entire volume of sales. Now comes the second portion of selling on increased volumes, but the buy liquidity buffer in the amount of $ 47100-49700 withstands the selling pressure.
Classically, as is the case with every significant price cut, sales are justified by the news. This time, sales to the market started under two news:
- Elon Musk's statement to stop selling cars for bitcoins;
- a lawsuit with Binance.
Funding rates for most assets are neutral - 0.01%.
Today, another batch of liquidations - $ 3.81 billion, the shoulders were shaved again. For those who do not respect the risk, the beautiful PnL yesterday turned into a "free cash register" today.
To get past the $ 47,100-49,700 buyer control zone, sellers need to enter the market with even more sales, which is quite expensive, but if that happens, the next support level is $ 44,200, where buyers will show their interest.
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Gold Team
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