BTC Whales Boast 14K USD before Bull RunEndy Callahan
Some of the most prominent crypto market analysts pay attention to whale clusters – recent data proves that what is happening right now may influence the entire market. Whale clusters demonstrate the twelve thousand USD to fourteen-thousand USD range and consider it to be a key zone for the top-ranked cryptocurrency in the near-term. Many crypto participants and users admit this fact and are ready to share the same viewpoint.
At the same time, on-chain experts lay out a few major data aspects basing their analysis on the past four-year cycle of BTC. As we can see, statistics illustrate that the fourteen-thousand level is an essential price point for the crypto because of whale clusters.
According to leading specialists, these clusters prove that there are many larger buyers who managed to purchase in the nine-thousand and twelve-thousand USD range. On the other hand, individuals who purchased at nine thousand USD are facing higher profits while those who bought the top cannot boast the same.
It is said that whale clusters might have resulted in volatile price action – this is when buyers, as well as sellers, intensively tried to break out from the twelve-thousand USD to fourteen-thousand USD price range.
Nowadays, many crypto analysts are willing to find out if a correction is possible or if they have to expect the continuation of the crypto’s rally. Arguments supporting data for a continuation are as strong as those for a pullback. If clusters purchased at nine thousand USD and twelve thousand USD, they would have a good reason to make a profit in the twelve thousand and fourteen thousand range. They, according to analysts, have already seen profits even after several months of stagnation.
Possible Events and Scenarios
On the other hand, if the clusters find themselves in profits and are still at breakeven, then they may be willing to face the rally going on. Analysts report that they expect an accumulation period to happen in the ten-thousand-USD zone following the crypto’s movement to twelve thousand or fourteen thousand USD. Theystate that whale clusters that are currently unspent announce a great fight occurring in the market.
There are two major players – top buyers at twelve-fourteen thousand approaching their breakeven price and also existing buyers who remain active after the first higher high throughout the past twelve months. If a correction takes place, it will probably result in another major cluster at the ten-thousand zone.
This is what the volume profile suggests. If the wales manage to break out, they will be able to enjoy the ride again. The BTC market has its special landscape now and it is quite unique if we compare it with previous phases. Specialists say that because of numerous macro factors, the cryptocurrency met unprecedented price movements and the pandemic played a great role in all this.
In mid-March, the price fell to three thousand five hundred and ninety-six USD in a fifty-percent drop in a few hours. Such unusual price movements the crypto could see this year as a result of unexpected external variables – they, as we see, increased the chances of an unusual price phase. Less than two years ago, the market had some of the most exciting market structures in any crypto’s cycle. Participants do admit that PlusToken was one of the major players in the trend. Also, all believe that the coronavirus influenced the events, too.
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