Bitcoin whale clusters pinpoint key support level for the rally to continue
Bitcoin whale clusters show $23,409 as a key support area, which means the ongoing rally has a strong floor. Bitcoin (BTC) whale clusters show that the $23,409 level has become an area of focus for large traders. This indicates that the ongoing bull run is buoyed by whales continuing to accumulate above $23,000.Whale clusters form when whales purchase Bitcoin and do not move their BTC holdings from the price of purchase. Clusters are useful in determining Bitcoin’s support levels, especially when the market moves rapidly.Bitcoin whale clusters. Source: Whalemap.io"Should not be going lower....
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New data from Whalemap reveals three whale clusters around $12K that should act as support and resistance areas for Bitcoin price in the short term. According to Whalemap, there are three major Bitcoin (BTC) whale clusters in the near term that might serve as key technical levels. The $11,857, $12,256 and $12,868 levels would likely act as important support and resistance areas.In previous cycles, whale activity coincided with significant price movements at crucial technical levels. For instance, Cointelegraph reported that a whale sold at $12,000 after “HODLing” for years. In the next few....
Bitcoin whale clusters show that the $18,600 level is the most important short-term resistance level for BTC price. The price of Bitcoin (BTC) has started to recover on Dec. 12 after briefly dropping below $17,700 yesterday. Whale clusters show that the $18,600 level remains the biggest short-term roadblock for BTC.Whale clusters form at a price point where whales accumulate Bitcoin and do not move their holdings. Since whales are more likely to sell at a profit or breakeven rather a loss, clusters typically act as support or resistance levels.In the near term, whale clusters from Whalemap....
Whale clusters show Bitcoin needs to defend $44,214 to see a continuation of the rally. Bitcoin (BTC) whale cluster data shows that $44,214 is the key near term level that the dominant cryptocurrency needs to defend.As Cointelegraph reported, in the last 24 hours, Bitcoin saw a sell-off after reaching a new all-time high at around $48,000, with the price shedding almost 8% and dropping to as low as $43,750 on Binance.Why is this level important for more BTC upside? Whale clusters form when whales or high-net-worth investors purchase Bitcoin at a certain price level and do not move....
Bitcoin has to defend $55,406 to prevent falling to the $40,000s once again, whale clusters suggest. The price of Bitcoin (BTC) is consolidating between $55,000 and $56,000 following the rejection at $61,000. Whale clusters suggest that one key level has to be defended to prevent a drop to the mid-$40,000 region. According to the data from Whalemap, which tracks Bitcoin whale activity, $55,406 is a critical whale cluster support area.If Bitcoin breaks below $55,406, analysts at Whalemap emphasized that a drop to $47,438 becomes the next likely move.Bitcoin whale clusters. Source:....
Whale clusters show three critical support levels Bitcoin must protect in order to see a larger rally in the near term. Bitcoin (BTC) whale clusters point toward three critical price levels to maintain a bullish market structure in the near term.Whale clusters form when large investors purchase Bitcoin and do not move it, making it an unspent transaction. These clusters typically indicate where crucial support levels exist and the logic is that BTC needs to maintain this level to see a prolonged rally.According to data from Whalemap, the three important support levels marked by whales are....