What price levels matter for BTC right now? Bitcoin traders line up the areas to watch.
The pair had hit fresh six-month highs the day prior, these facingBTC/USD 1-week candle chart with 200MA. Source: TradingView
Scott Melker, the trader and podcast host known as “The Wolf of All Streets,” stressed the importance of levels acting as lines in the sand for bulls. “$25,212. I've been screaming about this number for weeks. A break above makes a higher high for the first time since $69,000,” he“That breaks the bear trend. Just tapped it, to the penny... and dropped in the short term. Time to pay attention!”Investigating activity on exchanges, monitoring resource Material Indicators identified bid support inching higher, taking spot price with it.
“The notorious BTC buy wall we've been tracking for 5 weeks just strategically moved again, this time just above the 21-Day Moving Average,” itAccompanying data from the Binance BTC/USD order book also showed resistance laddered up to $25,600 — well above the site of the 200-week MA, which flipped from support to resistance last August.
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