• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin whale

    Bitcoin Whale moves 7,073 BTC to cold storage

    Binance

    Binance launches support for ADA upgrade

    How ethbox Keeps Your ETH Transactions Secure at All Times with a Passphrase 1

    How ethbox Keeps Your ETH Transactions Secure at All Times with a Passphrase

    Digital Yuan

    Digital Yuan-themed scam: Chinese police warns residents to be careful

    Institutional investors

    Institutional investors move 13,000 BTC from Coinbase to cold storage

    Crypto

    Crypto industry reaches a milestone of 100 million users

    Polkadot price

    Polkadot price prediction: DOT to decline to $25

    How ethbox Could be the Future of OTC Trading 2

    How ethbox Could be the Future of OTC Trading

    The Revolution will be Livestreamed 3

    The Revolution will be Livestreamed

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin whale

    Bitcoin Whale moves 7,073 BTC to cold storage

    Binance

    Binance launches support for ADA upgrade

    How ethbox Keeps Your ETH Transactions Secure at All Times with a Passphrase 4

    How ethbox Keeps Your ETH Transactions Secure at All Times with a Passphrase

    Digital Yuan

    Digital Yuan-themed scam: Chinese police warns residents to be careful

    Institutional investors

    Institutional investors move 13,000 BTC from Coinbase to cold storage

    Crypto

    Crypto industry reaches a milestone of 100 million users

    Polkadot price

    Polkadot price prediction: DOT to decline to $25

    How ethbox Could be the Future of OTC Trading 5

    How ethbox Could be the Future of OTC Trading

    The Revolution will be Livestreamed 6

    The Revolution will be Livestreamed

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Bitcoin News

Bitcoin price prediction – BTC/USD targets $19K as whales build Buy Wall at $17,000

Gurpreet Thind by Gurpreet Thind
November 20, 2020
in Bitcoin News
5 min read
Bitcoin price prediction – BTCUSD targets $19K as whales build Buy Wall at $17,000
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter
  • Bitcoin price prediction stuck in small range as accumulation phase begins
  • Bitcoin whales have built strong support near the $17,200 level to prevent the downfall
  • BTC/USD set for a breakout as technical indicators support an uptrend
  • Bitcoin price prediction moving in line with the broader crypto market rally
Bitcoin price prediction – BTC/USD targets $19K as whales build Buy Wall at $17,000 7
Cryptocurrency heat map by Coin360

Bitcoin price prediction of $19,000 possible soon on the back of massive whale support

The ongoing rally in BTC/USD is set to extend further with $19,000 within sight. Data suggests that BTC whales have built strong fortifications near $17,2000. If the price falls towards this support region, BTC whales will likely stop the fall and convert the opportunity into a massive buying spree.

Surprisingly, Bitfinex that was mostly placing sell walls before now has a pretty fat buy wall below. pic.twitter.com/bmdEUmYLfe

— Edward Morra (@edwardmorra_btc) November 19, 2020

The current Bitcoin bull rally seems overextended on the daily timeframe. However, large investors and BTC whales are known to defy technicals in the past as well. A well-known BTC trader, Edward Morra, says that exchange data shows how whales have built vital support regions to protect any downfall below the $17,200 level. Massive buy walls will help support the current bull rally and prepare for a move towards $19,000.

Bitcoin price movement in the last 4-hours – Will $17,000 support

Bitcoin price prediction – BTC/USD targets $19K as whales build Buy Wall at $17,000 8
Bitcoin price chart by TradingView

As BTC/USD prepares to cross $18,500, bears are also getting ready to initiate a selling spree. However, whale clusters near the $17,000 level will prove a tough nut to crack in case of an extended sell-off. Technically, there is not much resistance beyond $18,500, and BTC/USD can quickly scale mount $20K with some heavy volume underneath the pair.

RelatedPosts

Bitcoin Whale moves 7,073 BTC to cold storage

Institutional investors move 13,000 BTC from Coinbase to cold storage

Falling GBTC premium may cause investors to dump BTC – Peter Schiff

Dubai fund to trade $750 million Bitcoin for Polkadot and Cardano

Bitcoin price must stabilize or remain stagnant near $17,000 for it to attract buying volumes. The chances are that after a day or two’s stagnation, Bitcoin will jump towards higher levels. Exchange order books paint a similar picture showing how the $17K level is a strong defense. Bears will have to trigger massive liquidations to break the whale clusters or support points.

BTC/USD 4-hour chart features stagnant candles – signs of accumulation?

The 4-hour BTC/USD chart is currently overrun with zig-zag candles. And if recent rallies are any evidence, the current scene is a preparation of oncoming bulls runs. The Bollinger Bands are presently contracting and moving towards the trendlines. The ‘Relative Strength Index’ is below 70, meaning there’s a fair amount of room for bulls to move higher.

The upsloping moving averages are also in line with support regions. The 10-day exponential moving average is well above the $15,000 and will defend any extended sell-offs. Bulls have been relentless in pushing the moving averages upwards and hence Bitcoin price prediction. The bearish wedge pattern is no longer threatening the hourly traders. The increasing divergence between upper and lower Bollinger Bands reflects the high volatility. The demand and high momentum of the current rally will show how the price always moves towards the Bollinger Bands’ upper end after minor stagnation.

Massive whale support ready to defend the bearish onslaught

Massive whale clusters located between $17,000 to $17,200 support area have also moved up the moving averages. Going further, whale clusters will again move up towards the $17,780 level. As whales tend to hold their investments longer, the upsloping support levels will likely remain in place.

Bitcoin price prediction on the daily charts is turning highly optimistic. The longer-term timeframe depicts a rosy picture where BTC/USD is highly likely to cross $20,000 before December ends. Even the medium-term outlook on the 4-hour chart is bullish. Monthly and weekly candles are all green, and traders are getting cautious about such widespread optimism. In case BTC/USD posts a green candle for November, the Bitcoin price prediction will mark a trend last seen in 2017.

The road towards $20,000 is not linear – Know bear case scenarios

During the 2017 bull run, BTC/USD did not follow a parabolic path to touch all-time highs. Bitcoin maintained a stable bullish action, which included higher highs and minor corrections. The long-term timeframes did not give a clear picture back in 2017. The hourly charts featured many corrections, and traders remember how the pair fluctuated near the middle of the year. It was the ‘FOMO’ euphoria that pushed the pair towards the $20,000 mark.

And if $BTC closes out November anywhere near current levels, it will mark a new monthly closing high, surpassing its December 2017 close just above $14,000. pic.twitter.com/diswV6Sz7O

— Kevin Kelly, CFA (@Kevin_Kelly_II) November 19, 2020

Make no mistake – the BTC/USD pair will undertake a treacherous journey before touching fresh new highs. Even today, there will be minor corrections on the way to justify a long-term bullish rally. Looking only at daily timeframes will only hurt the day traders. Drawdowns are crucial to help cool the euphoric bull rallies.

Bitcoin price prediction conclusion – BTC displaying asset maturity in 2020

Today’s Bitcoin price prediction is different from 2017. It is now a much more mature asset and has developed safe-haven characteristics. The maturity is evident in the way it has undertaken its present journey. This time around, BTC got support from both the crypto community and institutional buying. The world’s top investors and financial institutions now recognize BTC‘s underlying strength.

Even the staunchest BTC supporters must realize that the road to the top is always bumpy. They must have suitable safeguards to prevent losses against minor corrections. Therefore, the massive buy wall near $17,000 support is an excellent move by the whales and makes Bitcoin price prediction clearer.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Tags: cryptocurrency tradingcryptomarket
Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

Related Posts

Bitcoin whale
Bitcoin News

Bitcoin Whale moves 7,073 BTC to cold storage

February 27, 2021
Institutional investors
Bitcoin News

Institutional investors move 13,000 BTC from Coinbase to cold storage

February 27, 2021
Falling GBTC premium
Bitcoin News

Falling GBTC premium may cause investors to dump BTC – Peter Schiff

February 26, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

Bitcoin whale

Bitcoin Whale moves 7,073 BTC to cold storage

February 27, 2021
Binance

Binance launches support for ADA upgrade

February 27, 2021
How ethbox Keeps Your ETH Transactions Secure at All Times with a Passphrase 9

How ethbox Keeps Your ETH Transactions Secure at All Times with a Passphrase

February 27, 2021
Digital Yuan

Digital Yuan-themed scam: Chinese police warns residents to be careful

February 27, 2021
Institutional investors

Institutional investors move 13,000 BTC from Coinbase to cold storage

February 27, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 10

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.