Bitcoin has been experiencing some volatility over today’s trading session as the price of BTC touches critical resistance levels. The number one crypto by market cap positively reacted to macroeconomic factors, but as the weekend approaches, low levels might lead to sudden price movement. Related Reading: WATCH: Weekend At Bitcoin’s: Will The Dead Crypto Make A Comeback? BTCUSD September 2, 2022 At the time of writing, Bitcoin (BTC) trades at $19,800 with a 1% profit in the last 24 hours and an 8% loss over the past week. The cryptocurrency saw bullish price action after the U.S. posted important metrics about their economy, but the rally was short lived as BTC stumble below a cluster of selling orders at around $20,400. Data from Material Indicators shows how the liquidity in the Binance order books has been following the price of Bitcoin. Large players have been setting buy and sell orders as BTC approaches critical levels. As seen in the chart below, today’s rejection was triggered by a stack of around $20 million in asks orders as Bitcoin trended to the upside. The price has seen a similar pattern during this week with BTC’s price trending upwards only to experience overhead resistance triggered by a spike in ask liquidity. On the opposite direction, buy (bid) orders have remained relatively more stable with $19,500, $19,000, and $18,000 displaying the most liquidity. These levels will be critical as they will operate as ...
