{"id":174593,"date":"2023-10-15T20:44:45","date_gmt":"2023-10-15T15:14:45","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=174593"},"modified":"2023-10-15T20:44:45","modified_gmt":"2023-10-15T15:14:45","slug":"bitcoin-will-the-muted-price-action-extend-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-will-the-muted-price-action-extend-crypto-news\/","title":{"rendered":"Bitcoin: Will the muted price action extend? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">BTC consolidated recent losses above 50% Fib level ($26.7k).<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">Bullish sentiment improved after the 12 October price dip.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin\u2019s [BTC]<\/span><\/a><span style=\"font-weight: 400\"> short-term recovery faced a key roadblock at $27k. The king coin\u2019s sharp reversal from $28.2k led to a 5% value loss based on a press time value of $26.8k in the early Asian session on 15 October.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/bitcoin-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">BTC Profit Calculator<\/span><\/a><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">A recent AMBCrypto price <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/will-btcs-drop-below-27k-amid-falling-demand-initiate-a-downtrend\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">analysis<\/span><\/a><span style=\"font-weight: 400\"> of BTC on 13 October showed that an extended value drop to the confluence of range-low\/bullish zone at $25k could provide a buying opportunity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">But a spike in short liquidation at a 50% Fib level of $26.7k since 12 October delayed the above projection.\u00a0<\/span><\/p>\n<h4>Will Bitcoin sellers drive it lower?<\/h4>\n<div id=\"attachment_351019\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTCUSDT_2023-10-15_09-46-51.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351019\" class=\"size-full wp-image-351019\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTCUSDT_2023-10-15_09-46-51.png\" alt=\"Bitcoin\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-351019\" class=\"wp-caption-text\">Source: BTC\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The extended BTC price drop on 11 October left a price imbalance at $26.9k \u2013 $27.2k (red). The area has been a crucial short-term hurdle in the past few days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Besides, the confluence of the price imbalance area with 50-EMA (Exponential Moving Average) and the 61.8% Fib level ($27.1k) could entice late sellers in the area. If so, a crack below 50% Fib level ($26.7k) could set BTC to $26.3k or the range-low area of $25k.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, a convincing bullish move above $27.2k could confirm a short-term recovery.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, BTC\u2019s Spot market demand improved, as shown by increasing OBV. However, the wavering buying pressure and limited capital inflows demonstrated by RSI and CMF laboring below key thresholds. It could undermine bullish efforts beyond $27.2k in the short term.\u00a0<\/span><\/p>\n<h4>Late BTC sellers punished<\/h4>\n<div id=\"attachment_351020\" style=\"width: 1236px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-liquidations-level.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351020\" class=\"size-full wp-image-351020\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Bitcoin\" width=\"1226\" height=\"639\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-liquidations-level.png 1226w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-liquidations-level-300x156.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-liquidations-level-1024x534.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-liquidations-level-768x400.png 768w\" data-lazy-sizes=\"(max-width: 1226px) 100vw, 1226px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-liquidations-level.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351020\" class=\"size-full wp-image-351020\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/BTC-liquidations-level.png\" alt=\"Bitcoin\" width=\"1226\" height=\"639\" \/><\/a><\/p>\n<p id=\"caption-attachment-351020\" class=\"wp-caption-text\">Source: Hyblock Capital [BTC Liquidation Level]<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Late sellers were punished, as indicated by the liquidation data from Hyblock Capital. The negative Cumulative Liquidation Levels Delta (CLLD), between 11-15 October, showed more short positions were liquidated over the same period. The negative CLLD also implied a mild bullish bias.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Read <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC] Price Prediction<\/span><\/a><span style=\"font-weight: 400\"> 2023-24<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">Besides, the liquidity was on the upside, as shown by the liquidation profile (right side of the chart). The key liquidity levels were at $26.9k, $27.2k, $27.8k, and $27.98k (areas marked by larger circles).<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the $27.2k level was of interest because of its confluence with 50-EMA, 61.8% Fib level and liquidation level. So, BTC\u2019s short-term recovery could face headwinds around $27k.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. BTC consolidated recent losses above 50% Fib level ($26.7k). Bullish sentiment improved after the 12 October price dip.\u00a0 Bitcoin\u2019s [BTC] short-term recovery faced a key roadblock at $27k. The king coin\u2019s sharp reversal from [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":174594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-174593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=174593"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174593\/revisions"}],"predecessor-version":[{"id":174596,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174593\/revisions\/174596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/174594"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=174593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=174593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=174593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}