The Bitcoin (BTC) To the shock of many investors, the price fell again last night to around $42,100. Although there is no reason to panic yet, many Bitcoin investors are still a bit worried. Major investors, the so-called whalesShe doesn’t seem to care at all. They are currently buying on a large scale.
Bitcoin bulls They were unable to break above and the result was a downward move. This movement was very violent and this was also reflected in the scale of the liquidation that took place. As many as $200 million of positions have been liquidated since last night, according to Data from Coinglass†
In the short term, traders and investors are bearish† Several analysts are currently looking at a back test of the level near the $40,000 level. Of course, in such a scenario, it cannot be ruled out that a file Bitcoin price It will also drop significantly below $40,000.
As long as it doesn’t recover 44K or even better from 45 to 46, I’m afraid we have to be prepared for more downsides and a retest of at least 40K and maybe even less.
Like I said a week ago, I no longer trust these moves….
Chart for the next week. I hope I’m wrong pic.twitter.com/wVQ74u1PPJ
– Ed_NL (Crypto_Ed_NL) April 9, 2022
On weekends, trading volume is usually much lower than during the week. This can sometimes lead to higher volatility at the end of the week. Glassnode founders Yann Allemann and Jan Happel indicated that they are preparing for a period of potentially violent price action.
# bitcoin It is trading in a liquid range of 42 – 45 thousand dollars. Low trading volumes over the weekend can cause sudden price swings.#BTC Danger signal at the high level threshold. pic.twitter.com/J4bj2aHCKo
– 𝗡 𝗡 𝗴 (Ninetropic_) April 8, 2022
The major bitcoin investors in this world do not seem to be very concerned about the immediate future of the bitcoin price. According to the latest data, whales are currently being hit on a large scale. They bought large amounts of bitcoin that were put up for sale by unsafe investors.
– CredibleCrypto April 9, 2022
So it seems very likely that bitcoin whales will have good hopes in the medium to long term.
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