April 29, 2026

BTC the coinbase book looks supported down to 30k



BTC the coinbase book looks supported down to 30k

BTC/USD COINBASE:BTCUSD
BGMind_Control



You might think that this is good and there is support, but a lot of times when somebody builds a huge position in a low liquidity asset and they are afraid that a certain level will get broken they stack orders on the books so it doesn’t look that bad, but first they probably will cancel them if the price gets down there or move them lower. On the offer you see nothing, it looks like there isn’t a resistance, but the opposite logic to the support can be applied and people might be trying to offload corns at higher prices without spooking everybody. There is a thing in the advanced trading platforms called a revolving order. That means that you can set the order so that lets say 200 btc can be seen on the book, but you might have 10k btc to sell behind it and ones those 200 are done the platform automatically puts another 200 for the market to see until those 10k are gone. So you can’t really trust what you are seeing on the books in the trading platforms. Right now it looks like someone that has a big position in btc is scared. That’s why you see these wicks on the support lines out of nowhere.

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