Битцоин (BTC) is currently trading sideways despite финансијска тржишта in the United States continuing to exhibit a high degree of volatility while markets in China are experiencing severe declines.
Given that Bitcoin has been trading sideways between $18,500 and $21,400 range over the last month, prominent крипто трговање expert, Michaël van de Poppe, идентификовано the $19,500-$19,600 mark as “crucial Отпор” on October 25. van de Poppe noted that if Bitcoin can consolidate support at this level it could spark a possible кратко стискање.
“If we break to the upside we can definitely say that once we do crack $19,500 and consolidate here we are probably going to get a squeeze happening always towards $20,700 and most likely $22,400 as we are taking out all the stops above these highs.”
In addition, the trader added that technically speaking, Bitcoin could still go as low as $19,000 and continue moving to the upside as it has been bouncing up with support from this level.
Bitcoin’s volatility less than S&P 500 and Nasdaq
Notably, Bitcoin rolling volatility over 20 days has пао испод С&П 500 и Насдак-а equity indices for the first time since 2018, as it has shown increasing resistance to rising yields and a stronger US Dollar over the past few weeks.
Despite the price of Bitcoin stabilizing, van de Poppe stresses that “the volatility will start to increase heavily.”
Финболд Такође пријавио on October 25 that long-term Bitcoin holders are continuing their 'ходлинг' behavior and currently own over 75% of all Bitcoin in existence, the highest percentage seen in seven years – since October 2015.
Prema kripto analitičaru мартуун, the behavior by long-term holders indicates the ‘strong support’ Bitcoin has.
„Статистички имају ниже понашање у потрошњи и стога су ово ходлери из последњег средства, пружајући Битцоин снажну подршку.
Meanwhile Bitcoin has управља надмашити дионице and most major fiat currencies in the third quarter of 2022, apart from the U.S. Dollar Index.
Currently, the flagship cryptocurrency is changing hands at $19,280, which represents a decrease of 0.44% on the day, as well as 1.22% across the previous seven days, although the monthly chart is showing an increase of 1.25%, according to ЦоинМаркетЦап података.
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Source: https://finbold.com/trading-expert-identifies-bitcoin-price-level-for-short-squeeze-trigger/