{"id":37720,"date":"2022-12-10T17:46:42","date_gmt":"2022-12-10T17:46:42","guid":{"rendered":"http:\/\/egrowonline.com\/?p=37720"},"modified":"2022-12-10T17:46:42","modified_gmt":"2022-12-10T17:46:42","slug":"bitcoin-price-targets-stretch-to-19k-as-btc-jumps-4-from-daily-lows","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=37720","title":{"rendered":"Bitcoin price targets stretch to $19K as BTC jumps 4% from daily lows"},"content":{"rendered":"


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Bitcoin (BTC<\/a>) stayed higher after a $17,000 liquidity grab on Dec. 9 as traders targeted further upside.<\/p>\n

BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n

Bitcoin attempts new monthly high<\/h2>\n

Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD cooling volatility once more after hitting $17,300 on Bitstamp.<\/p>\n

The pair had begun by taking liquidity<\/a> at the Dec. 8 Wall Street open, this snowballing to see it challenge one-month highs from Dec. 5.<\/p>\n

For those already betting on upward continuation, the move came as little surprise, with the coast still clear to add to the gains.<\/p>\n

\u201cThe move to 18-19k $BTC continues,\u201d popular trader Credible Crypto summarized.<\/p>\n

A previous tweet from Dec. 7 explained<\/a> the rationale, with invalidation set at $16,000 support.<\/p>\n

\u201cLows cleaned up and as if on cue Binance apes showing up to support the mid 16k\u2019s,\u201d part of accompanying comments read:<\/p>\n

\u201cMaybe one more push into 16.4-16.5k and then expecting a reversal back up and continuation to 18-19k targets.\u201d<\/p><\/blockquote>\n

BTC\/USD annotated chart. Source: Credible Crypto\/ Twitter<\/em><\/figcaption><\/figure>\n

Fellow trader Cheds, meanwhile,\u00a0eyed<\/a> potential continuation of volatility, with BTC\/USD tagging its upper Bollinger Band on 4-hour timeframes.<\/p>\n

At the time of writing, 4-hour candles remained near the upper band, with both still expanding in a classic prelude to increased volatility.<\/p>\n

BTC\/USD 4-hour candle chart (Bitstamp) with Bollinger bands. Source: TradingView<\/em><\/figcaption><\/figure>\n

\u201cExpecting continuation for Bitcoin as long as we stay above $17K,\u201d Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, added<\/a>, likening the overnight move to the breakout from the end of November.<\/p>\n

Liquidations fuel BTC price run-up<\/h2>\n

Further analysis of overnight BTC price action highlighted increased liquidations of short positions.<\/p>\n

Related:\u00a0Bitcoin 2022 bear market \u2018usual\u2019 despite key trend line loss \u2014 Analyst<\/a><\/em><\/strong><\/p>\n

In a sign of the extent to which market participants assumed further downside would enter, short liquidations on BTC totaled $7 million in a single hour on Dec. 8, data from Coinglass shows. Altcoin short liquidations added another $11 million to the tally.<\/p>\n

\u201cLiquidations have been relatively small since the early November crash but short liquidations helped fuel that recent move,\u201d analytics resource On-Chain College confirmed<\/a>.<\/p>\n

BTC liquidations chart. Source: Coinglass<\/em><\/figcaption><\/figure>\n

The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) stayed higher after a $17,000 liquidity grab on Dec. 9 as traders targeted further upside. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin attempts new monthly high Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD cooling volatility once more after hitting $17,300 on Bitstamp. The pair had begun by taking liquidity at […]<\/p>\n","protected":false},"author":1,"featured_media":37721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[9407,50,194,473,3622,1439,195,12767,1142],"class_list":["post-37720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-19k","tag-bitcoin","tag-btc","tag-daily","tag-jumps","tag-lows","tag-price","tag-stretch","tag-targets"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/853d37f7-b418-4237-8cef-2491e70f3798.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37720"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37720\/revisions"}],"predecessor-version":[{"id":37722,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37720\/revisions\/37722"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/37721"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37720"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}