Point out the key support level for the ongoing Bitcoin Whale Rally


Bitcoin (BTCThe $ 23,409 level of whale sharks has become a hotspot for big traders. This indicates that the whales are still running because of the whales still collecting more than $ 23,000.

When whales buy Bitcoin, they do not move their BTC shares from the purchase price. Clusters are especially useful in determining the level of support for Bitcoin, especially when the market is moving fast.

Bitcoin whales. Source: Whalemap.io

“Should not be lower than $ 23,409”

According to analysts at data analytics firm Whalemap, which tracks the movement of the Bitcoin whale movement, BTC has formed a solid floor between $ 23,000 and $ 23,500. They He said:

“Surprisingly large amounts of losses are flowing through the on-chain flow at 19 km,” he said. In this case, BTC gives us good meetings (last 10k -> 20k). We have a lot of support in recent prices. Not less than $ 23,409. ”

It is important to establish strong support areas during the bull run due to the risk of sudden Bitcoin disciplinary action. When whales hit prices as high as $ 23,409, the whales are slightly higher and can maintain Bitcoin momentum.

Fri-time trader Peter Brant points to the parabolic line of Bitcoin, a key area to watch from October to October.

Daily BTC / USD Price Chart with Trendlines. Source: TradingView.com, Peter Brandt

This means that BTC needs to keep it above that to prevent a big downturn. Brandt Posted by:

Bitcoin $ BTC is advancing in the parabolic movement from a low of 20 September. This curve is expected to be broken at some point, but will not drop by 80%. The green curve is a parabolic growth that extends beyond the lows of December 2018 and March 2020. This is the driving force behind the cattle market.

In the near future, the whale and the new parabolic route show that there are two key steps to holding $ 23,409 and $ 24,000 Bitcoin.

Violations of whaling communities below $ 24,000 could worsen the chances of a speedy repair.

Where can I top up BTC?

Traders believe Bitcoin could rise to two levels: $ 30,000 and $ 36,000. The options market has finally become a popular short-term forecast as it indicates a good chance of earning $ 36,000 in the coming months. Yes, the previous key is to the psychological level.

An anonymous trader known as “Byzantine General” predicted that Bitcoin would top the list with $ 30,000. He explained that $ 30,000 was a “gold ratio expansion” phase, with orders on Coinbase and Bitfinex. he He said:

“I think this gathering will go beyond 30 years,” he said. This is an expansion of the gold ratio. You also need to lie down on a CB & Finex fat burner. ”

December 27, at Cointelegraph Reported Bitcoin immediately saw great volatility and fell 6.5% just hours after hitting $ 28,200 in major exchanges. Given that the resistance areas with heavy sell order scanning have met with huge pullbacks, the $ 30,000 area could not present a major short-term roadblock to Riyadh Bitcoin.

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