BTC/USD quickly increased by $500, delivering daily gains of over 3 per cent, data from Cointelegraph Markets Pro showed
Bitcoin was back above $30k on April 18 amid volatility prior to the day’s Wall Street open.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD quickly increased by $500, delivering daily gains of over 3 per cent.
The pair had earlier worried traders, who watched as the $30k support seemed set to stay as longer-term resistance.
Prior to surpassing the $30k level, Binance order book activity was a factor for monitoring resource Material Indicators, which recognised bid liquidity moving near the spot price.
Some of it has already begun moving near the active trading zone. Watching to see if more of it comes or if price falls back into the $28s to fill, part of the commentary stated.
An ensuing update suggested that the biggest class of high-volume traders, known as “mega whales,” was behind the boost.
Responding to the most recent Bitcoin price action, Michael van de Poppe, founder and Chief Executive Officer of trading firm Eight, was hopeful.
There we go for BTC. Breaks through $30K, which means that we are back in the range, he tweeted along with a chart displaying key levels.
Most favoured a retest at $29.7K, would suit continuation towards new highs and towards $40K, he said.
More volatility was in the meantime a probability on lower timeframes ahead of the Wall Street open.
Those banking on more downside were already feeling the pressure, with data from Coinglass indicating $16mln of Bitcoin short liquidations on the day.
Altcoins also benefitted by the quick Bitcoin turnaround, with Ether 2 per cent higher on the day.
The biggest altcoin in terms of market cap headed back toward the peak of its intraday trading range, after successfully preserving $2k as support.
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