BTC Price Nears $21.7K As Whales Rise 'Almost Perfectly' Bitcoin
These are the high-volume buy and sell zones for Bitcoin over short periods of time, the data reveals.
Market Update
Bitcoin (BTC) sought to topple August resistance on September 10, as whale buy levels dictated BTC price action.
BTC/USD 1-Day Candle Chart ( Bitstamp ). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD hit new multi-week highs of $21,671 on Bitstamp.
The pair benefited from a short compression that started early on September 9, pushing it up around 10% after hitting the lowest levels since late June.
Analyzing the events, on-chain monitoring resource Whalemap noted that clusters of whale buys had effectively allowed Bitcoin to bottom.
The $19,000 value was previously a high-volume area of interest for buyers, so it remained untouched when visiting the two-month lows.
As Cointelegraph reported, two other key areas of whale support sit at $16,000 and $13,000.
"Support for whales...
These are the high-volume buy and sell zones for Bitcoin over short periods of time, the data reveals.
Market Update
Bitcoin (BTC) sought to topple August resistance on September 10, as whale buy levels dictated BTC price action.
BTC/USD 1-Day Candle Chart ( Bitstamp ). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD hit new multi-week highs of $21,671 on Bitstamp.
The pair benefited from a short compression that started early on September 9, pushing it up around 10% after hitting the lowest levels since late June.
Analyzing the events, on-chain monitoring resource Whalemap noted that clusters of whale buys had effectively allowed Bitcoin to bottom.
The $19,000 value was previously a high-volume area of interest for buyers, so it remained untouched when visiting the two-month lows.
As Cointelegraph reported, two other key areas of whale support sit at $16,000 and $13,000.
"Support for whales...
What's Your Reaction?
