Bitcoin (BTC<\/a>) sought to overturn August resistance on Sep. 10 as whale buy-levels dictated BTC price action.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD hitting new multi-week highs of $21,671 on Bitstamp.<\/p>\n The pair capitalized on a short squeeze<\/a> which began early on Sep. 9, taking it around 10% higher after plumbing the lowest levels<\/a> since the end of June.<\/p>\n Analyzing<\/a> the events, on-chain monitoring resource Whalemap noted that clusters of buy-ins by whales had effectively allowed Bitcoin to put in a floor.<\/p>\n $19,000 had been a high-volume zone of interest for buyers previously, and this thus remained unviolated during the visit to two-month lows.<\/p>\n As Cointelegraph reported<\/a>, two other key whale support zones lie at $16,000 and $13,000.<\/p>\n \u201cWhale support at 19k worked almost perfectly to the upside,\u201d the Whalemap team commented. <\/p>\n \u201c$21,543 is now the closest resistance according to whales.\u201d<\/p><\/blockquote>\n An accompanying chart showed the significance of the mid-$21,000 corridor in which BTC\/USD was acting on the day. In addition to being of interest to whales, the zone functioned as support in mid-August before flipping to resistance.<\/p>\n \u201cBitcoin still resting at resistance and probably consolidating here,\u201d Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, told<\/a> Twitter followers on the day. <\/p>\n \u201cI’d like to see the high getting swept and then a consolidation. What happens in between? Probably we’ll see altcoins firing off heavily.\u201d<\/p><\/blockquote>\n After this impressive move, it would be quite logical (does that ever apply to bripto?) to cool off here<\/p>\n LTF sweep already happened, momentum falling bit by bit<\/p>\n If $BTC<\/a> holds ~20.7K, then I think we’ll run this to 23K later#Bitcoin<\/a> pic.twitter.com\/s852sVRmF6<\/a><\/p>\n \u2014 Phoenix (@Phoenix_Ash3s) September 10, 2022<\/a><\/p><\/blockquote>\n Trader Pheonix meanwhile called for a more substantial consolidation next, followed by a return to $23,000.<\/p>\n Of additional interest to traders was Ether (ETH<\/a>), which managed its highest since Aug. 19 on the day before retracing.<\/p>\n Related:\u00a0Will Bitcoin\u2019s rally sustain? DXY, SPX, GC and WTI could have the answer<\/a><\/em><\/strong><\/p>\n $1,745 could still be beaten, popular Twitter account Il Capo of Crypto argued<\/a>, before a comedown took hold.<\/p>\n \u201cGoing straight to the $1800-1900 resistance,\u201d he forecast in a fresh update. <\/p>\n \u201cI expect bearish continuation once this level has been reached. This could be on or before the merge date.\u201d<\/p><\/blockquote>\n The Merge, due Sep. 15<\/a>, was already keenly eyed as a potential source of volatility on both ETH\/USD and beyond.<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/0bb0f7ee-7b1a-4979-a423-3961b20e6bd4.png\")
Whales provide short-term price ceiling<\/h2>\n
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Ethereum expected to hit $1,900<\/h2>\n
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