Bitcoin’s price is currently limited to $87,500 due to manipulation by whales, as reported by Material Indicators. Support at $80,000 has been firm, but strategic liquidity placements are keeping it from rising higher. Key areas of interest for traders include $84,000 to maintain upward momentum.

Recent analysis suggests that Bitcoin’s price is restricted at approximately $87,500 due to market manipulation by large traders, referred to as whales. According to Material Indicators, Bitcoin has maintained a support level at $80,000 but has peaked at $87,500 as of March 20. The ongoing volatility in broader financial assets may not have affected Bitcoin as significantly if not for strategic actions from these large trading entities.

In conclusion, Bitcoin’s price remains capped at $87,500 primarily due to the manipulation by whales employing strategies such as spoofing. Traders must monitor critical support levels around $84,000 and $85,000 to maintain upward momentum, as a failure to do so may lead to potential price retractions. As always, individual research is necessary before making any trading decisions.

Original Source: www.tradingview.com

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