Mysterious Bitcoin whales. As many as 6,500 BTC dating back to the Satoshi Nakamoto era have emerged. The ball happened in three stages, and the crypto community is wondering why these ancient BTCs were moved. Whatever happens, these whales are waking up at a time when the king of cryptocurrencies is up around 100% since the start of the year. However, the price continues to stall at the resistance level at $35,000. Let’s look at the important levels for the king of cryptocurrencies.
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Bitcoin price rises 1% in 24 hours
As the end of the week approaches, buyers continue to push. Indeed, the price of Bitcoin climbs 1% in 24 hours and of 2% in one week :
In one month, the course shows a increase of more than 25%. At the same time, the BTC/ETH pair drop of 1.2% in 24 hoursbut she climbs almost 13% in one month.
Significant liquidity lies around $34,000 for Bitcoin
For the moment, buyers are unable to break the resistance of $35,000. This wall has been pushing back the course for over a week. According to data from Coinglass, many Liquidity is around $34,000 :
A return to liquidity levels is not impossible and this could make it possible to restart the trend. In fact, this is the level where the large wallets (whales) can execute transactions efficiently. These areas tend to act as support or as resistance for the price. It is interesting to combine this kind of data with other technical elements. Therefore, let’s go see the short-term situation on BTC.
Towards a return to $33,800 for the price of Bitcoin?
Even if the course displays increase over 24 hoursbuyers are unable to break resistance at $35,000. Therefore, in the event of rejectionthe price could return to the level of support at $33,800 :
The $34,000, which has already served as support, corresponds to the level where lots of liquidity is present. Thus, this zone could cause the price to react in the event of a fall. However, if buyers manage to break the resistance at $35,000the next resistance is at $37,000. The RSI continues to show a bearish dynamicsTHE sellers have their hands on momentum short term.
The price of Bitcoin is showing weakness at the resistance level at $35,000. If buyers fail to break this level, a return to around $34,000 is possible. This is a technical zone which has already provided support, and liquidity is present at this level. For its part, Ethereum must cross the resistance at $1,860.
Closer to Bitcoin news
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