Bitcoin

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 Bitcoin is being treated with suspicion on short timeframes, with repeated pushes into resistance met with rejection.
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 Bitcoin (BTC) eased volatility into Oct. 6 as BTC <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> downside preparations returned.
 <figure><img src="https://cdn.thebittimes.com/images/2023/10/06/c9aa7500e13699cabd59c556b035f23f.webp">
 <figcaption style="text-align: center;">BTC/USD 1-hour chart. Source: TradingView
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 <h2 id="bitcoin-keeps-liquidations-limited-amid-long-sh-squeeze">Bitcoin keeps liquidations limited amid long, sh "squeeze"</h2>
 Data from Cointelegraph Markets Pro and TradingView covered a flatter 24 hours for BTC/USD after a failed retest of $28,000.
 After lingering in a narrow range around 1.5% lower, the largest cryptocurrency was again pushing toward the $28,000 mark ahead of the Wall Street open, yet fielded fresh concerns from market participants over potential losses to come.
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 $BTC / $USD - Update I remain just in my long from $26,000 for now, but will be closing that and entering a short if we lose $27,200 support below us. Alerts are set and i am on standby pic.twitter.com/mcS9Zcp5zN— Crypto Tony (@CryptoTony__) October 6, 2023
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 Popular trader Daan Crypto Trades eyed an ongoing tussle between two key moving averages (MAs) on one-day timeframes.
 “Whether the Daily 200MA (Purple) or the Daily 200EMA (Blue) gives in first, will likely determine the trend for the rest of October if I had to guess,” he wrote alongside a chart in an X post on Oct. 4.
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 “$27K &amp; $28K. The battle continues.”
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 <figure><img src="https://cdn.thebittimes.com/images/2023/10/06/2b43625207999e7beb4714585428744b.webp">
 <figcaption style="text-align: center;">BTC/USD annotated chart. Source: Daan Crypto Trades/X
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 Daan Crypto Trades subsequently flagged increasing open interest (OI) across exchanges, this apt to cause a squeeze of shorts followed by longs, respectively.&nbsp;
 “This has usually been a short squeeze (up) into long squeeze (back down). We saw this yesterday again. Good to keep an eye on this region,” he suggested.
 <blockquote class="twitter-tweet">
 #Bitcoin Open Interest hit the 8.7-9.1B region again where we've recently seen a lot of squeezes occur. This has usually been a short squeeze (up) into long squeeze (back down). We saw this yesterday again. Good to keep an eye on this region. pic.twitter.com/yojcBHSGzk— Daan Crypto Trades (@DaanCrypto) October 6, 2023
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 Data from montioring resource CoinGlass showed overall negligible liquidations across both long and short BTC positions through Oct. 6.&nbsp;
 <figure><img src="https://cdn.thebittimes.com/images/2023/10/06/554aa5f507d47ab3be9540e331cc1c2a.webp">
 <figcaption style="text-align: center;">BTC liquidations chart (screenshot). Source: CoinGlass
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 <h2 id="lack-of-lower-btc-price-levels-surprise">Lack of lower BTC price levels "surprise"</h2>
 Monitoring resource Material Indicators meanwhile turned its attention to whale trading behavior over the course of the week.
 Related:&nbsp;Bitcoin bull market awaits as US faces ‘bear steepener’ — Arthur Hayes
 Dividing whales into volume-based cohorts, it showed different “classes” of whale making contradictory moves. Orders worth between $100,000 and $1 million — the class Material Indicators often says is the main driver of spot <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> action — have increased exposure, but failed to spark a broader uptrend.
 “This week, purple bought aggressively and sold the local top. They then stared buying dips for a NET +$13.8M in market orders on @binance over the last 7 days,” it explained.
 Data further showed other whales net selling to the tune of nearly $60 million over the same period.
 “We could speculate whether or not that’s part of the FTX liquidation,” Material Indicators added, referencing the potential liquidation of assets from defunct exchange FTX.
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 “Doesn’t really matter who it is, but if there is any surprise, it’s not that price hasn’t gone higher…it’s that it didn’t go lower.”
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 <figure><img src="https://cdn.thebittimes.com/images/2023/10/06/5dca3a373862e096d634b82a3c85cb39.webp">
 <figcaption style="text-align: center;">BTC/USD order book data for Binance with whale activity. Source: Material Indicators/X
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 On the topic of exchange-based setups, popular trading account Exitpump likewise spied a potential liquidity grab being prepared below $27,400.
 “Price always likes to do multiple kisses into resistance block forming a top,” part of recent <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> summarized.
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 $BTC Possible run back to 28k. Good amount of bid liquidity below 27.4k on Binance spot orderbook. Price always likes to do multiple kisses into resistance block forming a top. pic.twitter.com/ZvUVEeqULY— exitpump (@exitpumpBTC) October 5, 2023
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 This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-bulls-keep-pressure-on-28k-while-calls-for-btc-price-dip-grow-tbt65349.html">https://thebittimes.com/bitcoin-bulls-keep-pressure-on-28k-while-calls-for-btc-price-dip-grow-tbt65349.html</a>

Bitcoin bulls keep pressure on $28K while calls for BTC price dip grow

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