Bitcoin to Revisit Pre-Liquidation Price Levels From Oct 10 Crash Soon: Analyst

Bitcoin BTC $115 398 24h volatility: 1.4% Market cap: $2.30 T Vol. 24h: $65.38 B and crypto experienced one of the worst crashes on Oct. 10-11, with unprecedented $19.35 billion liquidations. Two weeks later, the leading cryptocurrency could be getting ready to revisit the price levels pre-crash, according to a renowned analyst and professional trader.

In his Bitcoin Monday Update, CrypNuevo posted a roadmap to BTC this week, looking at liquidity spots that can act as a magnet to Bitcoin price. According to his analysis, Bitcoin could target the $121,000 level that is made of two liquidity pools created after Oct. 10-11’s market crash and liquidations.

Nevertheless, BTC is not out of the woods yet, and CrypNuevo warns that the cryptocurrency could first clear the “CME gap” from this weekend. The trader explained he has already taken profit in one-third of his long positions, hedging for the potential retracement by setting limit buy orders around the $111,000 and $112,000 price levels.

These long positions were built by following a similar strategy and making planned purchases at the previous “CME gap” at $107,000, according to a previous post covering this possibility.

Notably, CrypNuevo is a high-accuracy trader and analyst, sharing his moves and insights publicly for years. According to a post from Oct. 9, he had a 100% win rate in 13 trades in the 30 days prior to the post, achieving 103% in profit.

Week Starts Strong for Bitcoin Price

Interestingly, this week has had a strong start for Bitcoin and other cryptocurrencies, marking an overall positive day for the crypto market, as Coinspeaker reported.

During the weekend, investors staked $400 million in Bitcoin, rotating from gold, an analysis suggested. In this context, Strategy and American Corporation both added more Bitcoin to their reserves.

Michael Saylor’s Strategy acquired 390 BTC for $43.4 million, totaling 640,808 BTC owned by the company. Meanwhile, American Corporation added 1,414 BTC, becoming the 26th largest corporate Bitcoin holder, according to Coinspeaker coverage.

Ethereum ETH $4 214 24h volatility: 3.4% Market cap: $509.17 B Vol. 24h: $37.59 B , the second-largest cryptocurrency by market capitalization, is also making moves, breaking out of the $4,200 price resistance zone, following Bitcoin’s leadership.

The post Bitcoin to Revisit Pre-Liquidation Price Levels From Oct 10 Crash Soon: Analyst appeared first on Coinspeaker.