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Home / Business / 1000 Bitcoin Buy Wall May Bolster Bulls attempt to push BTC to $ 10,000

1000 Bitcoin Buy Wall May Bolster Bulls attempt to push BTC to $ 10,000



After suffering significant sales pressure as a result of the recent fall below $ 10,000, Bitcoin's bulls have stepped up and are now trying to push BTC back into the five-digit price region.

This upward momentum is bolstered by a massive BTC buying wall at Binance and a bullish fractal pattern that may imply that Crypto's next parabolic move is imminent.

Bitcoin Fractal Can Suggest Upcoming Price Rise

At the time of writing, Bitcoin is trading up nearly 3% to its current price of $ 9,850, marking a decent-sized wave of recent lows of nearly $ 9,300 that was set last week.

Ever since Bitcoin plunged from the $ 13,800 2019 highs, it has consistently found strong support in the $ 9,000 region, and the duration of each dip below $ 1

0,000 has been relatively short.

That said, it is very likely in the short term that $ 10,000 will act as a key resistance level, and any decisive br eak above this level could cause the cryptocurrency to rise significantly higher, although it is still unclear about bulls today has enough strength to push the crypto to other important levels of resistance.

Inmortal Technique, a popular cryptanalyst on Twitter, thought about the possibility of a potentially bullish fractal pattern in a recent tweet, showing that BTC could raise well over $ 100,000 in the coming years.

"Make your own conclusion," he remarked briefly while referring to the table below. [19659009Didgetconclusion $ BTC pic.twitter.com/DJquNwnaA1

– Inmortal technique (@inmortalcrypto) September 1, 2019

Massive BTC Buy Wall Could Bullster In addition, to bolster technical formations, Bitcoin & # 39; s current capability can be enhanced by a massive 1,000 BTC buying wall currently on Binance.

Bitcoin Birch, another popular cryptanalyst on Twitter, talked about this purchase wall in a recent tweet, noting that this purchase order represents about 5% of Bitcoin's total daily trading volume on Binance.

"Some people try to buy $ 1000 BTC on Binance – about 5% of the typical Binance daily volume for Bitcoin in a few orders," he noted. Some people try to buy 1000 $ BTC on Binance – about 5% of typical Binance daily volume for Bitcoin in a few orders🔥

s / o Reddit: voicebox88 pic.twitter .com / DAuQfbSTXI

– Bitcoin Birch 👨‍💻 (@BitcoinBir ch) September 2, 2019

When BTC pushes up to $ 10,000 – which is likely to be a level of relative resistance – a purchase order of this magnitude could significantly boost Bitcoin's bulls and allow it to climb significantly higher in the coming days and weeks.

  Featured image from Shutterstock. 




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