Битцоин (BTC) attempted to retake $21,000 on Oct. 29 as weekend trading began on a strong footing.
Dollar lurks as BTC price rebounds
Подаци из Цоинтелеграпх Маркетс Про ТрадингВиев followed BTC/USD as it rebounded overnight to local highs of $21,078 on Bitstamp — enough to clinch new six-week highs.
The pair had seen a consolidatory phase ensue after its first trip to the $21,000 mark, the first time it had traded above $21,000 since Sep. 13.
In his most recent Twitter update, popular trader and analyst Il Capo of Crypto maintained an existing theory over how short-term price action би се одвијао.
“Same same,” he сажети alongside a chart showing potential upside and downside target levels.
A cautionary macro note came from fellow trader John Wick, who warned that the United States dollar may make a return to pressure risk assets.
“Now we watch to see if we get a green Dot breaking above the Track line there,” he коментарисао on a chart of the U.S. dollar index (DXY):
“If so that’s a bad combo leading into Fed announcement Nov 2nd.”
Wick was referring to next week’s Federal Reserve announcement on interest rate hikes, these widely expected to match September’s 0.75% increase.
ETH liquidations keep coming
Seemingly still skeptical of bulls’ abilities to produce further gains, trader liquidations were once again mounting on the day.
Релатед: Биткоин слабе руке 'углавном нестале' јер БТЦ игнорише пад акција Амазона и Мета
Data from monitoring resource Coinglass showed shorts getting спаљен by the return to $21,000, with the tally for Oct. 29 totaling $95 million at the time of writing.
By contrast, the day prior had seen just $14 million of liquidated shorts, while Oct. 25 and 26 combined delivered $661 million.
“Retail all does the same thing and wonders why it never works out,” trading account IncomeSharks wrote (написано) on Twitter, citing a Cointelegraph article on liquidations impacting Етер (ETH) shorts:
“Record shorts at the bottom, record liqudiations at the bottom. Follow the herd and get slaughtered.”
ETH short liquidations on Oct. 29 were already at $240 million at the time of writing and looked set to eclipse previous days’ totals.
Овдје приказана стајалишта и мишљења су искључиво становишта аутора и не одражавају нужно ставове Цоинтелеграпх.цом. Сваки потез улагања и трговања укључује ризик, приликом доношења одлуке требало би да спроведете сопствено истраживање.
Source: https://cointelegraph.com/news/bitcoin-hits-new-6-week-high-as-ethereum-liquidates-240m-more-shorts