Whales' power is significant in Bitcoin: new evidence

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hi, Traders ! Monfex is on the air !

* According to a new report from SFOX, a crypto trading platform, the impact of whale traders on crypto markets is in evidence. Whales are individuals and organizations with large crypto holdings.
* The report reads upon an interview with Frank Weert, co-founder of Whale Alert, a site that keeps track of wallet crypto transactions of more than $50 million. The site captured transactions on behalf of whales that resulted in a drop of more than 20 percent in Bitcoin’s price from October 21 to October 22.
* Technically, Bitcoin is approaching Support of $9,000 and we assume the Bears could force the price down, below this important level.
* At the same time, we don't think that the price would stay below $9,000 for a long time. We expect a prompt upward reaction around the next Support of $8,500.

Pending trade signal

Buy @ $8,500 - $9,000.
Nearest Target: $10,500.
Stop-loss: $8,300.

Watch for our Updates to get real-time superior signals!


This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.


We can go as low at 7800 still, dont believe this shite
Looks good mate, do you think we will break 7000 or 6000 before the next bull run? ...
+1 Reply
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