Trader eyes $45,000 BTC price floor
Data from Cointelegraph Markets Pro and TradingView followed eerie calm on BTC/USD after Oct. 1’s sudden upside volatility saw $3,000 added in an hour.
The classic “short squeeze” saw no significant pushback into the weekend, with Bitcoin preserving levels above the August close.
For Cointelegraph contributor Michaël van de Poppe, it was now a question of what form a consolidation period could take in the coming days.
“If we want to get any corrective move at all, I think you don’t want to see it go that far down,” he warned in a YouTube update on Oct 1.
“I think the deepest you want to see it go is this level around $45,000.”
Van de Poppe nonetheless added that he favored bullish continuation as the conclusion to short-term price action rather than a deeper drop toward levels from earlier in the week.
A look at buy and sell levels on major exchange Binance meanwhile reveals incremental resistance in place beginning at $48,000.