{"id":1303,"date":"2022-09-19T06:24:13","date_gmt":"2022-09-19T06:24:13","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=1303"},"modified":"2022-09-19T06:29:10","modified_gmt":"2022-09-19T06:29:10","slug":"bitcoin-price-battles-whales-above-22k","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/bitcoin-price-battles-whales-above-22k","title":{"rendered":"Despite US CPI data, Bitcoin price battles whales above $22K."},"content":{"rendered":"

A recent on-chain data analysis shows Bitcoin bulls are now targeting the “final” primary resistance cluster below $25,000.<\/span><\/p>\n

The U.S. inflation numbers are expected to be released on Sep. 13, and Bitcoin (BTC) will continue to battle significant resistance.<\/span><\/p>\n

\"luster<\/p>\n

 <\/p>\n

In the days leading up to $22,500, BTC\/USD was tracked through Digitalcoinprice Markets Pro and TradingView.<\/span><\/p>\n

An overnight consolidation phase ensued after bulls attempted to dislodge seller interest above $22,000 but proved incredibly stubborn.<\/span><\/p>\n

Material Indicators, an on-chain monitoring service, highlighted the struggle in Binance BTC\/USD order book screenshots a day earlier.<\/span><\/p>\n

Let’s see if they are hungry enough to snack on $13M in <\/span>#BTC<\/span><\/a> ask liquidity.<\/span>#FireCharts<\/span><\/a><\/p>\n

 <\/p>\n

\n

Let’s see if they are hungry enough to snack on $13M in #BTC<\/a> ask liquidity.#FireCharts<\/a> pic.twitter.com\/GY3giu7Mh8<\/a><\/p>\n

\u2014 Material Indicators (@MI_Algos) September 12, 2022<\/a><\/p><\/blockquote>\n

 <\/p>\n

Whalemap, meanwhile, explained why bulls were unable to break out of the current range.<\/span><\/p>\n

Whalemap’s Twitter followers were told to keep an eye on prices between $22,780 and $23,400.\u00a0\u00a0<\/span><\/p>\n

\u201cWe have one more in our current range of 19k to 25k, but it’s a serious one.”<\/span><\/p>\n

\"\"<\/p>\n

 <\/p>\n

Embedded in the graph was a statistical analysis of the levels of accumulation of large-volume wallets in the past. There was therefore no doubt that spot price would face resistance.<\/span><\/p>\n

The most recent bottom in BTC price was effectively sealed by these clusters of whale activity, according to Digitalcoinprice.<\/span><\/p>\n

As Crypto Ed examined the situation further, he noted that spot buyer demand remained strong, indicating a price correction would begin soon.<\/span><\/p>\n

\u201c There is absolutely no doubt that <\/span>#BTC<\/b><\/a> should correct down (small CME gap), but check how spot keeps buying this <\/span>(white indicator).\u00a0<\/b><\/a><\/p><\/blockquote>\n

 <\/p>\n

Ed_NL (@Crypto_Ed_NL) <\/span>September 13, 2022<\/b><\/a><\/p>\n

 <\/p>\n

In the previous update, Crypto Ed had given a conceivable target at a downside of <\/span>$20,800.<\/b><\/p>\n

 <\/p>\n

Showdown of CPI due in hours<\/b><\/p>\n

The day was still all about Michael van de Poppe, CEO, and founder of trading firm Eight, and July’s print on the Consumer Price Index (CPI) for August.<\/span><\/p>\n

Around 8:30 am EST, CPI is expected to confirm the ongoing trend of declining inflation.\u00a0<\/span><\/p>\n

The CPI is going to be released in mid of September. In terms of month-over-month comparisons, Van de Poppe expects -0.1% and 8.1% year-over-year growth:\u00a0<\/span><\/p>\n

We’ll probably see a heavily negative reaction if it’s higher than those numbers. Positive reaction if it’s lower. In a nutshell.<\/span><\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

A recent on-chain data analysis shows Bitcoin bulls are now targeting the “final” primary resistance cluster below $25,000. The U.S. inflation numbers are expected to be released on Sep. 13, and Bitcoin (BTC) will continue to battle significant resistance.   In the days leading up to $22,500, BTC\/USD was tracked through Digitalcoinprice Markets Pro and […]<\/p>\n","protected":false},"author":5,"featured_media":1308,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=1303"}],"version-history":[{"count":1,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1303\/revisions"}],"predecessor-version":[{"id":1307,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/1303\/revisions\/1307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/1308"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=1303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=1303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=1303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}