Bitcoin (BTC) lingered beneath $88,000 into Thursday’s Wall Street open as attention switched to order-book manipulation.
Key points:
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Bitcoin is facing fresh attempts to manipulate short-term price action, says analysis.
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Order-book data flags key support and the risk of a trip to “Bearadise” if it fails to hold.
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Wyckoff BTC price bottom calls grow more confident as the monthly close nears.
Bitcoin at “gateway to ‘Bearadise’”
Data from TradingView showed ongoing BTC price weakness, with BTC/USD acting in an increasingly narrow range.
BTC/USD one-hour chart. Source: Cointelegraph/TradingViewAfter failing to sustain above $90,000 the previous day, frustration continued to build among traders as stocks and precious metals smashed records.
In his latest analysis of exchange order-book liquidity, Keith Alan, cofounder of trading resource Material Indicators, had a theory as to why Bitcoin could no longer beat resistance.
“FireCharts shows $BTC price is being suppressed by one entity using a liquidity herding strategy to push price lower, potentially to get their own bids filled, or possible to keep price pinned in the lower end of this range before Friday’s options expiry,” he told X followers on the day.
Alan referred to one of Material Indicators’ proprietary trading tools covering liquidations at key nearby price levels, as well as whale order volume.
BTC/USDT order-book liquidity data with whale orders. Source: Keith Alan/XAs Cointelegraph reported, large-volume entities are known to influence price action using liquidity to shift the market, trapping less experienced traders in the process.
“A significant amount of bid liquidity is concentrating in the $85k – $87.5k range to strengthen support, and potentially provide a foundation for a bounce before the Monthly Close,” Alan continued.
He warned that closing January below the 2026 open level at $87,500 would “serve as the gateway to Bearadise.”
Wyckoff BTC bottom countdown continues
Continuing, pseudonymous trader CW described $86,000 as a “buying wall” provided by whales.
Related: Bitcoin ETF $86K break-even level in focus amid US wirehouse influx reports
“The gap between the buy and sell walls is narrowing. Volatility is coming,” an earlier X post forecast.
BTC/USD chart with order-book liquidity data. Source: CW/XEarlier, Wyckoff analysis led commentator MartyParty to predict that Bitcoin would put in a long-term low around the end of the month.
This could see BTC/USD dip below $80,000 — an event that would act as the Wyckoff “spring” event before a dramatic market turnaround.
MartyParty uploaded two charts showing how the event could play out in the coming days.
Bitcoin Wyckoff schematics. Source: MartyParty/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Source: https://cointelegraph.com/news/single-bitcoin-entity-keeping-btc-price-suppressed-below-90k-analysis?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
