Bitcoin rose on October 2nd after a “great” breakout in market sentiment.
Traders have an eye on a minimum price of $ 45,000 for Bitcoin
TradingView’s data has seen an eerie calm in BTC / USD after a sudden surge in volatility on October 1st saw an additional $ 3,000 in an hour.
The classic “short squeeze” had no noticeable effects over the weekend, as Bitcoin consolidated above the end of August.
Analyst Michael van de Poppe is Consider about how Bitcoin will consolidate in the coming days.
“If there’s a fix, I think you don’t want it to go that far down. In my opinion, the lowest level is around $ 45,000. “
Source: Michael van de Poppe
However, Van de Poppe added that he prefers a sustained uptrend in the short term rather than a deeper drop from the levels at the beginning of the week.
Meanwhile, a look at the buy and sell levels on the major exchange, Binance, reveals heightened resistance above $ 48,000.
Source: material indicators
Analyst Rekt Capital is just as optimistic Note that BTC / USD hit a four month higher low, all of which have seen strong “support”.
Referring to the sentiment meter of the Crypto Fear & Greed Index, he noted that thanks to the price movement on October 1st, fear generally left the market again.
“After yesterday’s big outbreak … investors are no longer afraid of Bitcoin. Extreme fear precedes financial opportunities. “
The Fear & Greed Index weakened into the zone of “extreme fear” on September 30th and has since increased from 20 to the current level of 54/100, which is referred to as “neutral” sentiment.
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According to Cointelegraph