Bitcoin price hits $19.5K into weekly close as trader predicts 'green week'

Битцоин (BTC) saw fresh gains on Oct. 23 as the weekend delivered a potential launchpad for the bulls.

*БТЦ / УСД 1-сатни графикон свећа (Битстамп). Извор: ТрадингВиев*

$10 million liquidations as Bitcoin steps higher

Подаци из Цоинтелеграпх Маркетс Про ТрадингВиев followed BTC/USD as it spiked above $19,500 as the weekly close approached.

While modest, the $300 move punctuated otherwise flat trading behavior, Bitcoin notoriously rangebound on daily timeframes.

Now, hopes were high that the market would offer more solid price action in the coming days, $20,000 remaining out of reach for over a week.

“Green week ahead, preferably first closing the current CME gap,” popular trader Crypto Ed Рекао Twitter followers in an update at the time of writing.

An accompanying chart showed resistance in play around $19,500.

“Still moving higher from the green box. For now rejected exactly at that horizontal,” he added.

*BTC/USD annotated chart. Source: Crypto Ed/ Twitter*

Analytics account On-Chain College meanwhile noted that even such an hourly uptick had managed to spark comparatively large number of liquidations, these setting a multi-day record.

“Around $6 million in Bitcoin Short Liquidations over the last hour. This is the highest short liquidation level in 10 days,” it потврђен alongside data from on-chain analytics platform CryptoQuant.

*БТЦ/УСД графикон са коментарима. Извор: Он-Цхаин Цоллеге/Твиттер*

Weekly close could set multi-week high

In terms of weekly closes, Oct. 23 looked set to be another close-run candle within an increasingly compressed cluster.

Релатед: Биткоин ће достићи више од 100 хиљада долара 2023. пре „највећег тржишта медведа“ — трговац

Should BTC/USD end the week above $19,440, however, it would nonetheless represent the highest weekly close since early September.

*БТЦ / УСД једнонедељни графикон свећа (Битстамп). Извор: ТрадингВиев*

In an update, trading suite Decentrader nonetheless описани Bitcoin as “strong” going into the close, with multiple trading indicators bullish.

“I do believe the bottom is in for Bitcoin, despite the majority believing that we’ll hit $14K or lower,” Michaël van de Poppe, founder and CEO of trading firm Eight, meanwhile додао in thoughts on the day.

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.