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

1 year ago

Bitcoin (BTC) saw caller gains connected Oct. 23 arsenic the play delivered a imaginable launchpad for the bulls.

$10 cardinal liquidations arsenic Bitcoin steps higher

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD arsenic it spiked supra $19,500 arsenic the play adjacent approached.

While modest, the $300 determination punctuated different flat trading behavior, Bitcoin notoriously rangebound connected regular timeframes.

Now, hopes were precocious that the marketplace would connection much coagulated terms enactment successful the coming days, $20,000 remaining retired of scope for implicit a week.

"Green week ahead, preferably archetypal closing the existent CME gap," fashionable trader Crypto Ed told Twitter followers successful an update astatine the clip of writing.

An accompanying illustration showed absorption successful play astir $19,500.

"Still moving higher from the greenish box. For present rejected precisely astatine that horizontal," helium added.

Analytics relationship On-Chain College meantime noted that adjacent specified an hourly uptick had managed to spark comparatively ample fig of liquidations, these mounting a multi-day record.

"Around $6 cardinal successful Bitcoin Short Liquidations implicit the past hour. This is the highest abbreviated liquidation level successful 10 days," it confirmed alongside information from on-chain analytics level CryptoQuant.

Weekly adjacent could acceptable multi-week high

In presumption of play closes, Oct. 23 looked acceptable to beryllium different close-run candle wrong an progressively compressed cluster.

Should BTC/USD extremity the week supra $19,440, however, it would nevertheless correspond the highest play adjacent since aboriginal September.

In an update, trading suite Decentrader nevertheless described Bitcoin arsenic "strong" going into the close, with aggregate trading indicators bullish.

"I bash judge the bottommost is successful for Bitcoin, contempt the bulk believing that we'll deed $14K oregon lower," Michaël van de Poppe, laminitis and CEO of trading steadfast Eight, meantime added successful thoughts connected the day.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.

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