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fore, use this knowledge for your trading.</p><p id="c487">In the short term, the next target price to keep a lookout is at $8600, where I expect the price will not go further beyond within the next 24 hours.</p><h2 id="4bd6">Time-based analysis</h2><p id="83a3">If you have noticed, this movement coincided with the twin time period I have mentioned in this article:</p><div id="9fe7" class="link-block"> <a href="https://medium.com/@hustle.lead/bitcoin-the-trick-of-the-hodlers-ba35edfa7721"> <div> <div> <h2>Master The Hodler’s Trick to Make You a 95% Win</h2> <div><h3>Try a Time-Based Trading Strategy, Especially during a sideway movement.</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*PHoi50gxnDKPlv4f.jpg)"></div> </div> </div> </a> </div><p id="7f48">The window at which the whale movement seems to always bring the price down from 10K has been the “13:00–14:00” (U.S.).</p><p id="ccf3">Read the article to find out more.</p><div id="b0b5" class="link-block"> <a href="https://medium.com/@hustle.lead/bitcoin-the-trick-of-the-hodlers-ba35edfa7721"> <div> <div> <h2>Master The Hodler’s Trick to Make You a 95% Win</h2> <div><h3>Try a Time-Based Trading Strategy, Especially during a sideway movement.</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*PHoi50gxnDKPlv4f.jpg)"></div> </div> </div> </a> </div><div id="b42f" class="link-block"> <a href="https://medium.com/@hustle.lead/bitcoin-is-going-further-down-get-out-at-t

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he-next-pump-7f5959de6087"> <div> <div> <h2>I Sold Before the Crash, Now Bitcoin is Going Further Down</h2> <div><h3>Get out at the next pump. Why I sold before the crash, and it has nothing to do with the 50 BTC transfer.</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*YcwhMsyESA7Z8iXy7tvkXQ.png)"></div> </div> </div> </a> </div><div id="0940" class="link-block"> <a href="https://medium.com/@hustle.lead/so-you-have-heard-of-the-90-759-000-00-us-dollar-pizza-so-what-271563f55a21"> <div> <div> <h2>So You Have Heard of the 92,167,000.00 US Dollar Pizza, What Gives?</h2> <div><h3>*Giveaway alert* What exactly went down during the transaction, and how you can benefit.</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/1*HDomruEbw6U6dxFrY2oIgQ.png)"></div> </div> </div> </a> </div><div id="ef66" class="link-block"> <a href="https://readmedium.com/if-you-had-invested-your-1200-stimulus-check-in-bitcoin-86f57c6f6181"> <div> <div> <h2>If You Had Invested Your 1200 Stimulus Check in Bitcoin…</h2> <div><h3>Stuck at home, bored, and with cash, why not invest it? Not so fast.</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*YIEaGTbUEbN2o2k5)"></div> </div> </div> </a> </div></article></body>

Bitcoin | Live

Bitcoin Plunges 15% on BitMex After 10K Breakout

What BitMex’s chart tells us about the price to look out for.

BitMex chart

Price Movement

As you all might have seen, in a crazy turn out of events, Bitcoin broke the 10K barrier again. This time in a sell-off.

In the 14 hours after a 7% surge, BitMex saw a whole 15% sell-off in 1 minute.

“…15% sell-off in 1 minute”

Other exchanges including Bitstamp and Okex did not see a drop nearly as much as the mainly leveraged trading platform, with lows at around 9600–9100.

The difference on BitMex could most likely be attributed to a series of liquidations leading to a long squeeze.

This present us a telling tale about the support.

Whale Movement

Just as Bitcoin appears to accumulate above 10K and show strength, it decides to dump. This is evident of a whale-induced movement.

The $10,150 price from which it fell spells a price that is attractive to the whales, at which the price couldn’t stay more than a day.

After the whale sell-off, the price hit a major support at $8595, and bounced 7% back up.

The large movement settled at around $9500.

BTCUSD chart

“…price hit a major support at $8595, and bounced 7% back up.”

What to do next?

The major support is at $8600. It has also been the key price mark to consistently cause a bounce back within the last month. Therefore, use this knowledge for your trading.

In the short term, the next target price to keep a lookout is at $8600, where I expect the price will not go further beyond within the next 24 hours.

Time-based analysis

If you have noticed, this movement coincided with the twin time period I have mentioned in this article:

The window at which the whale movement seems to always bring the price down from 10K has been the “13:00–14:00” (U.S.).

Read the article to find out more.

Bitcoin
Cryptocurrency
Investing
Money
Trading
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