Will Bitcoin 'rug' to pull the plug on $28,000? Watch the Binance order book.
The weekend had finished on an erratic note as news of a Opec+ oil production cut sent crypto tumbling before a rebound during the Asia trading session.significant liquidity on either side of spot price on the Binance order book.
"We still don't have a confirmed breakout or breakdown, only rejected attempts which have kept price chopping in this range," part of fresh Twitter commentary added.BTC/USD order book data . Source: Material Indicators/Twittersummarized , referring to the equilibrium price at $28,234 — the midpoint of the upper and lower bounds of the trading range — holding over the weekend.
"Range EQ providing support for the past 4 days. Bulls want to see acceptance / daily close above 28.9K for expansion. Bears want a significant close below range EQ. At that point, prior support from EQ could flip to resistance sending price to retest range low."Others were more categorical in their market appraisals. Maartunn, a contributor at on-chain analytics platform CryptoQuant, turned to longer timeframes to place emphasis on the success of the March monthly close.
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