Bitcoin investors “no longer be afraid”-next look at this BTC price level


Bitcoin (Bitcoin) Maintained a high level on October 2, after an “astounding” breakthrough upwards that subverted market sentiment.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Traders pay attention to the lower limit of 45,000 USD BTC price

Data from Cointelegraph Markets Pro with Transaction view After Friday’s sudden upward volatility increased by $3,000 in one hour, BTC/USD showed a creepy calm.

The classic “short extrusion” saw No obvious resistance Entering the weekend, Bitcoin remained above the August closing price.

For Cointelegraph writer Michaël van de Poppe, the question now is what form the integration period might take in the next few days.

“If we want to take any corrective measures, I don’t think you want to see it drop that far,” he warned in a statement. YouTube updates Friday.

“I think the price you most want to see is around $45,000.”

Nonetheless, Van de Poppe added that he tends to continue to be bullish as a conclusion of short-term price movements, rather than falling further from the levels earlier in the week.

At the same time, checking the buying and selling levels of the major exchange Binance shows that there is incremental resistance starting from $48,000.

BTC/USD buy/sell level (Binance) on October 2. Source: Material Indicators

“Extreme fear precedes financial opportunity”

Equally optimistic is the trader and analyst Rekt Capital, who famous BTC/USD has been hitting higher lows for four months. Although the price has risen every time, all of these have been supported by strong buyers.

related: “Say hello to Uptober”-Bitcoin price soared above US$47,000 within a few minutes, liquidating a short position of US$270 million

Reference sentiment measurement Crypto Fear and Greed IndexHe pointed out that overall, due to Friday’s price action, fear has once again left the market.

“Following yesterday’s amazing breakthrough in BTC… Investors are no longer afraid of Bitcoin,” he said Summarize.

“Extreme fear precedes financial opportunities.”

On Thursday, fear and greed struggled in its “extreme fear” zone, and its score rose from 20/100 to the current level of 54/100, described as emotionally “neutral.”

Crypto Fear and Greed Index as of October 2. Source: Alternative.me