{"id":13543,"date":"2023-10-07T16:41:39","date_gmt":"2023-10-07T16:41:39","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=13543"},"modified":"2023-10-07T16:41:40","modified_gmt":"2023-10-07T16:41:40","slug":"bitcoin-bulls-keep-pressure-on-28k-while-calls-for-btc-price-dip-grow","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13543","title":{"rendered":"Bitcoin bulls keep pressure on $28K while calls for BTC price dip grow"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) eased volatility into Oct. 6 as BTC price downside preparations returned.<\/p>\n<p><em>BTC\/USD 1-hour chart. Source: TradingView<\/em><\/p>\n<h2>Bitcoin keeps liquidations limited amid long, short \u201csqueeze\u201d<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView covered a flatter 24 hours for BTC\/USD after a failed retest of $28,000.<\/p>\n<p>After lingering in a narrow range around 1.5% lower, the largest cryptocurrency was again pushing toward the $28,000 mark ahead of the Wall Street open, yet fielded fresh concerns from market participants over potential losses to come.<\/p>\n<p lang=\"en\" dir=\"ltr\">$BTC \/ $USD &#8211; Update <\/p>\n<p>I remain just in my long from $26,000 for now, but will be closing that and entering a short if we lose $27,200 support below us. Alerts are set and i am on standby pic.twitter.com\/mcS9Zcp5zN<\/p>\n<p>\u2014 Crypto Tony (@CryptoTony__) October 6, 2023<\/p>\n<p>Popular trader Daan Crypto Trades eyed an ongoing tussle between two key moving averages (MAs) on one-day timeframes.<\/p>\n<p>\u201cWhether the Daily 200MA (Purple) or the Daily 200EMA (Blue) gives in first, will likely determine the trend for the rest of October if I had to guess,\u201d he wrote alongside a chart in an X post on Oct. 4.<\/p>\n<p>\u201c$27K &amp; $28K. The battle continues.\u201d<em>BTC\/USD annotated chart. Source: Daan Crypto Trades\/X<\/em><\/p>\n<p>Daan Crypto Trades subsequently flagged increasing open interest (OI) across exchanges, this apt to cause a squeeze of shorts followed by longs, respectively.\u00a0<\/p>\n<p>\u201cThis has usually been a short squeeze (up) into long squeeze (back down). We saw this yesterday again. Good to keep an eye on this region,\u201d he suggested.<\/p>\n<p lang=\"en\" dir=\"ltr\">#Bitcoin Open Interest hit the 8.7-9.1B region again where we&#8217;ve recently seen a lot of squeezes occur. <\/p>\n<p>This has usually been a short squeeze (up) into long squeeze (back down).<\/p>\n<p>We saw this yesterday again.<\/p>\n<p>Good to keep an eye on this region. pic.twitter.com\/yojcBHSGzk<\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) October 6, 2023<\/p>\n<p>Data from monitoring resource CoinGlass showed negligible liquidations across both long and short BTC positions through Oct. 6.\u00a0<\/p>\n<p><em>BTC liquidations chart (screenshot). Source: CoinGlass<\/em><\/p>\n<h2>Lack of lower BTC price levels \u201csurprise\u201d<\/h2>\n<p>Monitoring resource Material Indicators meanwhile turned its attention to whale trading behavior over the course of the week.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin bull market awaits as US faces \u2018bear steepener\u2019 \u2014 Arthur Hayes<\/em><\/strong><\/p>\n<p>Dividing whales into volume-based cohorts, it showed different \u201cclasses\u201d of whales making contradictory moves. Orders worth between $100,000 and $1 million \u2014 the class Material Indicators often says is the main driver of spot price action \u2014 have increased exposure, but failed to spark a broader uptrend.<\/p>\n<p>\u201cThis week, purple bought aggressively and sold the local top. They then stared buying dips for a NET +$13.8M in market orders on @binance over the last 7 days,\u201d it explained.<\/p>\n<p>Data further showed other whales net selling to the tune of nearly $60 million over the same period.<\/p>\n<p>\u201cWe could speculate whether or not that\u2019s part of the FTX liquidation,\u201d Material Indicators added, referencing the potential liquidation of assets from defunct exchange FTX. <\/p>\n<p>\u201cDoesn\u2019t really matter who it is, but if there is any surprise, it\u2019s not that price hasn\u2019t gone higher\u2026it\u2019s that it didn\u2019t go lower.\u201d<em>BTC\/USD order book data for Binance with whale activity. Source: Material Indicators\/X<\/em><\/p>\n<p>On the topic of exchange-based setups, popular trading account Exitpump likewise spied a potential liquidity grab being prepared below $27,400.<\/p>\n<p>\u201cPrice always likes to do multiple kisses into resistance block forming a top,\u201d part of recent analysis summarized.<\/p>\n<p lang=\"en\" dir=\"ltr\">$BTC Possible run back to 28k. Good amount of bid liquidity below 27.4k on Binance spot orderbook.<\/p>\n<p>Price always likes to do multiple kisses into resistance block forming a top. pic.twitter.com\/ZvUVEeqULY<\/p>\n<p>\u2014 exitpump (@exitpumpBTC) October 5, 2023<\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-bulls-pressure-28k-calls-btc-price-dip\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) eased volatility into Oct. 6 as BTC price downside preparations returned. BTC\/USD 1-hour chart. Source: TradingView Bitcoin keeps liquidations limited amid long, short \u201csqueeze\u201d Data from Cointelegraph Markets Pro and TradingView covered a flatter 24 hours for BTC\/USD after a failed retest of $28,000. After lingering in a narrow range around 1.5% lower, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-13543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13543"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13543\/revisions"}],"predecessor-version":[{"id":13545,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13543\/revisions\/13545"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13544"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}