Bitcoin Price Orderbook Shows Resistance At $21,500, Will BTC Retrace?

The crypto market has returned to the green with Bitcoin price pushing north of $20,000 after a severe rejection from those levels in August. The market is heading into the weekend, and with two major events in the next few days, there could a spike in volatility. Related Reading: Bitcoin Bulls Aim Past $20,000 Level – How Hard Can They Charge Forward? At the time of writing, Bitcoin price trades at $21,000 with a 10% and 4% profit in the last 24 hours and 7 days, respectively. Data from Coingecko shows that BTC is overperforming in the crypto top 10 by market cap as other assets lag and present minor losses. Bitcoin Price Near Overhead Resistance, Can Bulls Push Through? As Bitcoin flirts with its current levels, data from Material Indicators (MI) have begun showing liquidity on the move. The benchmark crypto was able to fill over $15 million in asks orders as it broke past critical resistance at $20,000. Now, the most important level of resistance stands at $21,500, for the short term. At those levels, the Bitcoin price is seeing selling orders stacking from $7 million to around $12 million in the past 12 hours. These orders might operate as resistance and slow down any attempts from the bulls to reclaim higher levels. Material Indicators show that the current price action is being bought by retail investors and by large investors with buying orders of over $100,000. If Bitcoin price is to show a bullish continuation, the la...