 Bitcoin back to $90K next? Traders diverge on BTC price pullback odds 
2024-11-22

Bitcoin BTCUSD faced a serious challenge hitting $100,000 on Nov. 22 as $300 million in sell-side liquidity blocked the way.
BTC price teases with rejection near $100,000
Data from Cointelegraph Markets Pro and TradingView showed BTC price downside taking over at the Wall Street open.
BTCUSD fell to local lows of under $97,300 and was down around 1.2% on the day at the time of writing.
A trip toward the key six-figure mark earlier ended in defeat as sellers lined up to prevent BTC price from climbing higher — a common feature for Bitcoin around key psychological levels.
“FireCharts shows a massive Bitcoin sell wall compressed between the $99.3k - $100k range,” trading resource Material Indicators confirmed in its latest post on X.
This referred to liquidity on largest global exchange Binance, with the $100,000 sell wall clearly standing out against other levels while building in strength over the past few hours.
“The good news is there has been a slight bit of erosion in the last few hours,” Material Indicators continued.

Accompanying volume data showed sell-side transactions dominated by amounts between $100 and $1,000, with whales still refraining from mass distribution.
“It would actually be good to see whales start dumping blocks of ask liquidity to force $BTC into a support test and to ultimately make the wall easier to penetrate,” the post argued.
The United States spot Bitcoin exchange-traded funds (ETFs) achieved another day of net inflows above $1 billion on Nov. 21, reflecting considerable institutional interest supporting BTC price momentum.
Bitcoin 4-hour RSI hints at bullish comeback
Others considered where a potential deeper price retracement may end up, with popular trader Crypto Chase eyeing $90,000 in what he called the “optimal scenario.”
Fellow trader CJ had a higher target focused on the mid-$90,000 range.
In support of a return to upside, meanwhile, trader Roman noted promising bullish divergences on the 4-hour relative strength index (RSI).
This fell 10 points on the day, dipping below the key 70 “overbought” level.
“Big bull divs forming between price & RSI here. We should see trend continuation as a result,” he told X followers on the day. 

This 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.