Bitcoin $60K resistance hints at 'buy the dip opportunity' before all-time highs — Analyst
Bitcoin $60K resistance hints at 'purchase the dip opportunity' before all-time highs — Analyst
Bid and ask levels are flipping bullish as BTC/USD heads towards $60,000, data shows.
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Bitcoin (BTC) liquidity is changing — and it could mean that hodlers will go a fresh "buy the dip" opportunity.
As noted by on-chain analyst Material Scientist on Oct. 12, order book movements are now repeating behavior from Baronial.
Order book data boosts bull case
What was Bitcoin's initial "renaissance" calendar month after hitting mid-bicycle lows of $29,000, Baronial encouraged bullish perspectives to render earlier a sideways September entered.
October, or "Uptober," has since taken the mood back to bullish, and gild book information proves information technology.
"Resistance at 60K — First fourth dimension since August that asks > bids within 20% of price," Material Scientist commented.
"If we go rejected it would provide a nice dip-ownership opportunity on the path to ATH."

In other words, every bit BTC/USD has neared $60,000, more sellers are demanding college prices for BTC — within 20% of spot price.
Every bit other users have added, the divergences between the bid and inquire orders have coincided with local spot cost tops and bottoms, further adding to the optimism over current toll activeness.
Resistance "won't matter" months from now
Equally Cointelegraph reported, meanwhile, analysts are carve up over when a potential correction could happen and how far it could extend.
Related: BTC price hits $57K five-month high — 5 things to watch in BTC this week
With as depression every bit $45,000 still in play, even so against a lack of overall selling interest, Bitcoin is keeping investors guessing every bit information technology grinds towards all-time highs.
"Macro-wise, BTC is gearing up for the 2d part of its cycle. That said, $BTC is at its final major resistance area before new All-Time Highs," trader and analyst Rekt Capital reasoned on Oct. 12.
"In the brusk-term, this resistance area may matter. But months from now — it won't."

Source: https://cointelegraph.com/news/bitcoin-60k-resistance-hints-at-buy-the-dip-opportunity-before-all-time-highs-analyst
Posted by: cilleyladon1973.blogspot.com
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