Bitcoin Traders Discuss the Likely Short Term Correction Case For BTC Price
The Bitcoin price is hovering above $17,700 after an explosive overnight rally. Albeit the market sentiment is at its peak, some traders anticipate a healthy BTC price pullback might occur. Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange, said an average 30% correction would mark a healthy pullback for BTC. If […]
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On-chain data may suggest short-term Bitcoin holders could be behind the latest correction in the cryptocurrency’s price. Bitcoin Short-Term Holders Behind The Correction? As pointed out by a CryptoQuant post, on-chain data may hint that selling from short-term holders might be the drive behind the recent correction. The relevant indicator here is the Spent Output […]
The price of Bitcoin surpassed $51,000 after a week of stagnation. Traders are becoming more optimistic on the short-term price trend of BTC as it picks up momentum. Whales are buying Bitcoin According to the on-chain data from CryptoQuant, whales are continuing to accumulate Bitcoin. At the $48,000 level, on-chain data indicate that high-net-worth investors […]
Bitcoin price correction was fierce, but short-lived. As this column is only updated every day or two, I don’t typically show short-term charts. But I thought this chart might be interesting for some who are following the column. This two-hour chart shows that the correction occurred almost exactly at the top of the 5th square of the setup. Interestingly, the rallies also accelerated as soon as the 2nd and 4th arcs were cleared. The correction went exactly to the 1×1 Gann angle (45 degrees). So we are once again confronted with the question: “What’s next?” As usual, I don’t know anything....
Ethereum’s price is forming the last wave of the short-term downward trend. After this wave ends, the medium-term structure will begin to form. There will be a good chance for increased volatility. ETH/USD. The first wave of almost any trend is usually formed by big traders. By pouring in big capital, they provoke the mass of small traders into either selling or buying an asset. Trading volume usually falls at key levels of any trend, because the majority of traders don’t know where the price is going to go. Because of that, those that do make the first step are clearly expecting....
After the end of its short-term upward trend, Ethereum is continuing to form a medium-term flat. The price is close to the bottom limit, from which an upward rebound is also likely. Will the medium-term upward trend continue? Ethereum’s price is approaching the bottom limit of the flat. That means that the market will soon reach a decision point for the direction of the coming weekly trend. The minimal correction target for the whole upward trend, which started at $10, is reached. Thus, the market will decide between two options at the bottom limit of the flat: either a correction of a....