Ali Martinez, a trader and cryptocurrency expert, tweeted that he had found a buy signal on a Bitcoin chart. He has described the technical analysis that the leading cryptocurrency must now do in order to reclaim its position above the $30,000–$31,000 levels.
“Buy signal on BTC 12-hour chart”
Martinez noted on Twitter that the TD Sequential indicator had indicated that Bitcoin should be purchased. But he also noticed a reversal DOJI candle emerging on the chart, which would portend an impending decline in Bitcoin’s price.
According to the expert, if Bitcoin could avoid closing below the $29,800 mark, it may gain enough strength to confirm the bullish signal and climb as high as $30,600 or even $31,300.
The most popular digital currency is now valued at $29,980, according to CoinMarketCap, at the time this story was published. The recent significant gains that Bitcoin saw upon the announcement that BlackRock, Fidelity, and other Wall Street firms have filed applications for Bitcoin ETFs with the SEC regulator have now been partially reversed.
Whale that pushed BTC down in winter is doing it again
A whale has sent 4,451 BTC to the Binance exchange, according to a tweet from the “Smart Whale” tracker @lookonchain. The value of that portion of bitcoin is $133.7 million.
According to the tweet, the same whale also made a deposit of about 5,000 BTC on January 30 (valued at $188 million at the time). Following the event, the price of Bitcoin fell by around 4.2%, from about $23,700 to $22,700.
The same whale bought about 25,160 BTC between Oct. 6 and Dec. 15, according to @lookonchain, paying an average price of $19,059 per Bitcoin.
This wallet now has 15,603 BTC worth around $470 million.
