{"id":121744,"date":"2020-11-27T23:15:00","date_gmt":"2020-11-27T20:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-whale-clusters-show-these-are-the-strong-support-levels\/"},"modified":"2020-11-27T23:15:00","modified_gmt":"2020-11-27T20:15:00","slug":"bitcoin-whale-clusters-show-these-are-the-strong-support-levels","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-whale-clusters-show-these-are-the-strong-support-levels\/","title":{"rendered":"# Bitcoin whale clusters show these are the strong support levels"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a257244d98c0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a257244d98c0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-whale-clusters-show-these-are-the-strong-support-levels\/#16411_is_the_short_term_level_to_watch_for_Bitcoin\" >$16,411 is the short term level to watch for Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-whale-clusters-show-these-are-the-strong-support-levels\/#Traders_expect_Bitcoins_consolidation_to_last_for_weeks\" >Traders expect Bitcoin&#8217;s consolidation to last for weeks<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin whale clusters show these are the strong support levels  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Since topping out at $19,484, Bitcoin price has struggled to reclaim the $17,000-$18,000 level. As the price continues to decline, traders are targeting key underlying support levels to determine where traders will buy if BTC price continues to fall.<\/p>\n<p> The im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te support levels based on whale clusters are $16,694, $16,411, and $16,064. Below the $16,000 support, $15,355, $14,914, and $13,740 that could serve as macro support areas.<\/p>\n<p>Whale clusters form when whales accumulate BTC and do not move their recently acquired funds. The clusters also indicate where whales last bought, signifying potential support areas.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/4b4cfdec-e926-4ac9-8fc9-f014e85b76b4.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin whale clusters. Source: Whalemap<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"16411_is_the_short_term_level_to_watch_for_Bitcoin\"><\/span>$16,411 is the short term level to watch for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The price of Bitcoin has been showing weakening momentum in the past 24 hours. Following such a major correction, some consolidation is to be expected as the price searches for stabilit.<\/p>\n<p>One positive trend is that buyers have been aggressively defending the $16,411 support area, which is marked by whale clusters. This shows that there is sufficient buyer demand in the market to prevent a broader pullback, at least in the short term.<\/p>\n<p>On Nov. 27, Bitcoin tested the $16,200 to $16,400 support range twice in a span of 22 hours. Both retests were met with a decent response from buyers, as BTC surged above $16,800 in both cases.<\/p>\n<p>For most of the day, Bitcoin remained above $17,000 and peaked at $17,400, showing signs that BTC is regaining its momentum.<\/p>\n<p>Still, some traders are not ruling out the possibility of BTC dropping to the lower macro support areas. A pseudonymous trader known as \u201cWolf\u201d said the weekly chart is showing signs of overextension. As such, he said that the $13,000 region could get tested. The trader <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/IamCryptoWolf\/status\/1332250028962947072\">explained<\/a>:<\/p>\n<blockquote><p>\u201cDifferently from $ETH, $BTC looks way over extended from the weekly 21EMA, still far from interesting support. My ideal entry would be the outlined major support @ 13k&#8217;s. Currently we might hold the 16213 weekly support, then head lower for an ABC correction.\u201d<\/p><\/blockquote>\n<p>Another pseudonymous trader known as \u201cCrypto Capo\u201d suggested a similar trend. He <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1332249502183534592\">said<\/a> that he sees a scenario playing out where BTC rises to $18,000 and then falls to the $13,000 region.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> USD 6 Hour<\/p>\n<p>Interesting price action means more technical analysis. I expect the trend to cool off here. $17214 is the key level to watch, daily close below here and I expect us to move to test the 0.382 level.<\/p>\n<p>Love these conditions. <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/t.co\/nGobpRAXiN\">pic.twitter.com\/nGobpRAXiN<\/a><\/p>\n<p>\u2014 Koroush AK (@KoroushAK) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/KoroushAK\/status\/1331999795196669953?ref_src=twsrc%5Etfw\">November 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Traders_expect_Bitcoins_consolidation_to_last_for_weeks\"><\/span>Traders expect Bitcoin&#8217;s consolidation to last for weeks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Although there are bearish short-term predictions from long-time Bitcoin investors, some technical analysts say that consolidation could last a while.<\/p>\n<p>Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange, said the market faced a healthy pullback. Following the correction, Poppe said that consolidation could last for several weeks. He <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1332259260143636482\">said<\/a>:<\/p>\n<blockquote><p>\u201cRelax and zoom out, market is making a healthy correction and giving everyone a great opportunity to invest. Don\u2019t be impatient, the market will make a natural bottom to confirm it\u2019s in. It just takes weeks.\u201d<\/p><\/blockquote>\n<p>In the short term, the immediate area of interest for buyers remains the three whale cluster levels at $16,694, $16,411, and $16,064. If BTC falls below these levels convincingly, the probability of a deeper correction could significantly spike.<\/p>\n<p>Following the sharp drop in the price of Bitcoin (BTC), whale clusters show several areas as key support levels. These levels could allow BTC to stabilize and regain its momentum in the short term.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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As the price continues to decline, traders are targeting key underlying support levels to determine where traders will buy if BTC price continues to fall. The immediate support levels&#8230;<\/p>\n","protected":false},"author":1,"featured_media":121745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/5f99213c-e31e-4510-80df-41a3570203fe.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937],"class_list":["post-121744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/121744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=121744"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/121744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/121745"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=121744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=121744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=121744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}