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Bitcoin holds above the $41,000 level, while the outflow of BTC from cryptocurrency exchanges reaches an all-time high.
According to the leading exchange Binance, the maximum price of bitcoin at the time of publication was $41,561.
1 hour BTC/USDT chart. Source: Binance
Popular cryptocurrency trader Crypto Ed tweeted that he expected this move. He believes that the price will rise “a little” more, and then the $40.5 thousand level will be tested. If it can be maintained, then the growth will continue to $42-43 thousand. If not, then Bitcoin will fall to the $38.5 thousand area ( green square on the graph).
1 hour bitcoin chart. Analytics
Amsterdam Stock Exchange trader Michael van de Poppe also analyzed the situation on Twitter:
First of all, I look at the barrier of $42,000 — its breakthrough will mean the breakdown of the downtrend. Otherwise, I’m considering the $40k area to enter a long position.
2 hour bitcoin chart. Analysis by Michael van de Poppe
Meanwhile, Blockware insights analyst William Clemente drew attention to the fact that cryptocurrency exchanges are losing bitcoin deposits at a rate that has only been seen three times in history – and each time after that there has been a rapid increase in the price.
The dynamics of exchange deposits of bitcoin. Source: glassnode
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