The price of Bitcoin stagnates – The cryptocurrency sector has not performed well for a few weeks, but the Litecoin is one of the altcoins that manages to express itself. In one week, it climbed 15% with the arrival of the LTC-20. For his part, the bitcoin price moves around $27,000, buyers and sellers neutralize each other in 24 hours. Are addresses with more than 100 BTC switched to buying?
This Bitcoin price analysis is brought to you in collaboration with CryptoTrader and its algorithmic trading solution finally accessible to individuals.
Buyers and sellers neutralize in 24 hours on the price of Bitcoin
This weekend, Bitcoin is stabilizes around $27,000. THE bitcoin price is up from 2.8% in seven days:
In one month, the price of BTC shows a down nearly 8%. However, it remains in the green for three months and for six months. The BTC/ETH pair is showing a slight decrease in 24 hourscould Ethereum price benefit from the recent decorrelation with BTC?
Are addresses with more than 100 BTC accumulating?
THE whales are entities with more than 1,000 BTC in portfolio. Here, we will focus on wallets with more than 100 BTC. It is therefore wallets exceeding $2.7 million :
At the end of 2022, addresses with at least 100 BTC in their wallet had accumulated BTC before distributing as the asset rises. Recently, the Bitcoin price fell by more than 15%and these operators took over a accumulation behavior. Attention, this indicator is not perfect, these entities are also mistaken. For example, by the end of 2021, they had also accumulated, and had to sell in a hurry.
The price of Bitcoin is in indecision in 4 hours
For the past few days, the Bitcoin price has not been showing more clear dynamics. Indeed, the troughs are ascending, and the peaks are descending:
The course is in the process of Contractthere BTC volatility drops. Once the direction is taken, BTC could experience either upward or downward volatility. At the moment, buyers are defending the bracket at $26,700but they fail to break the resistance at $27,500. If the resistance gives way, the price could then return to the level of the next resistance at $28,500. In this case, buyers would regain control of the price. On the other hand, if the support gives way, the sellers would regain control of the price. Therefore, a return to the level of bracket at $25,000 is possible.
The RSI tries to break the bearish trendline. If the RSI confirms the breakout by developing above 59the price could rise again.
The course of Bitcoin falling more than 15% for a few weeks, but wallets with more than 100 BTC have decided to accumulate again. They had already accumulated at the end of 2022 when the price was below $20,000, and the majority of traders were in fear. However, the price must resume a bullish momentum in the short term. For this, it will be necessary to start by holding the support at $26,700, and to close beyond the last high at $27,650.
Do you want to delegate the trading of some of your cryptocurrencies? Through his optimized trading serviceCryptoTrader allows you to maximize your profits in a simple, diversified and fully automated way.