U.Today - Crypto analyst and trader Ali Martinez has published a tweet saying that he spotted a buy signal on a chart. He has explained what the flagship cryptocurrency needs to do now in terms of technical analysis in order to regain its position above the $30,000-$31,000 levels.
"Buy signal on BTC 12-hour chart"
TDBitcoinThe analyst believes that if Bitcoin managed to avoid closing under the $29,800 level, it may to validate the bullish signal and rise as high as $30,600 or even maybe $31,300.
At the time of publishing this article, the leading digital currency is trading at $29,980, according to CoinMarketCap. Bitcoin's recent high gains, which it received on the news of BlackRock (NYSE:BLK), Fidelity and other Wall Street companies filing for Bitcoin ETFs with the SEC regulator, have been partly erased by now.
Whale that pushed BTC down in winter is doing it again
The tweet says that the same whale also deposited approximately 5,000 BTC on Jan. 30 (evaluated at $188 million back then). After it happened, the price of Bitcoin slumped roughly 4.2% — from roughly $23,700 to $22,700.
During the period between Oct. 6 and Dec. 15, @lookonchain continues, the same whale acquired approximately 25,160 BTC, paying $19,059 per Bitcoin on average.
Currently, this wallet contains 15,603 BTC worth almost $470 million.