Can the 'Notorious B.I.D.' continue to save Bitcoin bulls from a capitulation?
The pair had lost almost $1,000 on Feb. 24, ending the week in aWith “out-of-hours” trading now in place until Monday, chances for thinner liquidity to spark more pronounced moves heightened.
Analyzing the state of the Binance order book, monitoring resource Material Indicators confirmed the continued existence of a major line of bid support informally known as the “Notorious B.I.D.” and “great wall.”“If the Notorious B.I.D. wall at $22,250 holds, I expect it to be part of the weekend whale games. I would not be trying to catch knives,” Material Indicators“Expect BTC to retest lows or potentially move to price discovery before a legit Bull Market Breakout.
"Weekly retest of the confluent area that is the Lower High and Monthly Range High resistance is now in progress," he"Price needs to hold here for the retest to be successful. However, Weekly Close below this area would be a bearish sign."An additional post argued that the monthly close would be a key determining factor in the overall trend, this also being just days away.
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