Bitcoin whale clusters pinpoint $18.6K as key short-term resistance By Cointelegraph



Bitcoin whale clusters pinpoint $18.6K as key short-term resistance

The price of (BTC) has started to recover on Dec. 12 after briefly dropping below $17,700 yesterday. Whale clusters show that the $18,600 level remains the biggest short-term roadblock for BTC.

Whale clusters form at a price point where whales accumulate Bitcoin and do not move their holdings. Since whales are more likely to sell at a profit or breakeven rather a loss, clusters typically act as support or resistance levels.

Near-term Bitcoin whale clusters. Source: Whalemap
Crypto Fear and Greed Index. Source: Alternative.me, Cointelegraph Markets