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Bitcoin bulls encircle $28K as trader says ‘big’ buyer must step in

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Bitcoin attempts to flip $28,000 to support into the weekly close, but BTC price may need a helping hand from a “big” spot buyer.

BTC/USD 1-hour chart. Source: TradingViewNow, the $28,000 resistance formed the main point of interest for market participants going into the new week.

“So on LTF we can see clearly the market is still trading $28K as resistance. Going to require a big spot buyer to crack that area imo,” heSkew further described Bitcoin’s reaction to both that level and the 200-day moving average , currently at $28,040, as “not the best kind.”

 

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