Bitcoin whales accumulate 150,000 BTC in the last 60 days - BTC/USD confluence detector

As per Weiss Ratings, 150,000 bitcoins have been accumulated by crypto whales within the past 60 days.
BTC/USD faces immediate resistance at $3,900. If bulls breach that level, then growth till $4,000 is a possibility.

Rajarshi Mitra Independent Analyst

Weiss Ratings, a financial research firm, stated that Bitcoin whales have accumulated 150,000 bitcoins over the past 60 days. This could be an indicator that they are getting ready for the next bull run. BTC/USD is currently trading at $3,850 but faces immediate resistance at $3,900, as per the BTC/USD daily confluence detector. If the bulls manage to move the price past that, then growth till $4,000 is a distinct possibility.

BTC/USD daily confluence detector

According to the BTC/USD daily confluence detector, the resistance levels lie at $3,900, $4,000, and $4,200. The confluences at those levels are:

$3,900: 5-day simple moving average (SMA 5) curve, 15-min previous high, hourly previous high, 4-hour previous high, 15-min Bollinger band upper curve, hourly Bollinger band upper curve, weekly 38.2% Fibonacci retracement level, daily 38.2% Fibonacci retracement level, and monthly 38.2% Fibonacci retracement level.
$4,000: Daily pivot point resistance 3, weekly 61.8% Fibonacci retracement level, and monthly 23.6% Fibonacci retracement level.
$4,200: Previous month high and previous week high.

The support levels lie at $3,850, $3,831-$3,890, $3,700, and $3,390. The confluences at those levels are:

$3,850: SMA 100, 4-hour previous low, 15-min Bollinger band lower curve, daily 61.8% Fibonacci retracement level, hourly Bollinger band middle curve, SMA 50, 15-min Bollinger band middle curve, SMA 10, SMA 5, hourly previous low, and 15-min previous low.
$3,831-$3,890: SMA 200, SMA 50, SMA 5, SMA 10, daily pivot point support 1, daily previous low, 4-hour Bollinger band middle curve, weekly 23.6% Fibonacci retracement level, and daily Bollinger band middle curve.
$3,700: 4-hour Bollinger band lower curve, previous week low, and monthly 61.8% Fibonacci retracement level.
$3,390: Weekly pivot point support 2 and monthly pivot point support 1.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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