After spending weeks moving sideways, BTC price seemed to be close to a new high. However, the cryptocurrency seems to be stuck just below the resistance level at $60,000.<\/p>\n
Analyst Ben Lilly has published a report in which he determines what has caused the stalemate and how BTC has a “bullish combination” for the following weeks<\/a>. The analyst has registered large sell walls near current levels. This, he claims, is part of a whale of a strategy to “attract” liquidity.<\/p>\n They do this by stalling prices near a breakout. Then after releasing the valve a bit, they can liquidate those built up as well as the newly added positions.<\/p><\/blockquote>\n The key to an exit of the stock from the current price is the “unlocking” of a large amount of BTC from Grayscale’s fund could give bullish momentum. These unlockings will begin to occur in late April, the analyst says:<\/p>\n To me this continued sideways scenario makes the most sense given how quickly we have climbed since last week\u2026 But when it comes to bitcoin, if those walls get lifted and the fake out\/liquidity grab maneuver does not take place\u2026 then we\u2019re off to the races.<\/p><\/blockquote>\n Jet fuel to the upside. Funding rates reset from the drop. Now the liquidity is higher, time to punch it. pic.twitter.com\/icLm7PjBZL<\/a><\/p>\n — Ben Lilly (@MrBenLilly) April 4, 2021<\/a><\/p><\/blockquote>\n\n