CandleFocus Bitcoin Reaches 25D High as Whales Trade and Shorts Liquidate
2024-09-23
Author: Content Editor
Bitcoin has surged to a 25-day high of $64,745, leading to increased trading volume and optimism among traders. Whales have taken advantage of the price surge, selling billions of dollars' worth of Bitcoin. Short-term holders have also benefited from the price increase. A large transaction of 1,999 BTC, worth $128.6 million, has occurred, indicating ongoing whale activity. Analysts suggest that Bitcoin's dominance may be peaking, potentially setting the stage for an altcoin season. Technically, Bitcoin remains in a bullish trend but is nearing an overbought condition. Resistance levels are at $65,802 and $67,510, while support is at $61,617 and $59,225. The cryptocurrency's ability to sustain momentum will be closely monitored in the coming days.
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