Bitcoin again broke the price of $ 18,000. Since the FTX case started, the Bitcoin price has been depressed below $18,000 even though in mid-December 2022 it had broken through this price in a short time. As of January 12, 2023 at 10.00 WIB, Bitcoin is trading at a price of $ 18,221.
Total IDR 3.7 Trillion Liquidated
In futures trading, reported by Coinglass, in the last 24 hours futures traders experienced liquidation of $243.2 million or around Rp.3.7 trillion with a total liquidated Long position of $26.29 million (11% of positions) and Short of $216.91 million ( 89% position). It can be seen that short position traders are much more exposed to liquidation, which means that this price increase was unexpected.
Also when Bitcoin broke $17,000 on January 10, 2023, the total liquidation was $186 million and this time it was bigger which indicates the average trader thinks that the price level above $17,000 is too high and expects a correction.
The position most affected by liquidation is Ethereum with a total liquidation of $ 112.22 million. Ethereum also experienced an unexpected upsurge by breaking through $1,400. The two Bitcoins with a liquidation total of $75.04 million.
Bitcoin Price Predictions
Bitcoin has again formed five consecutive green candles on the daily timeframe indicating strong buying momentum. The last time Bitcoin formed a consecutive green candle was in September 2022 and after that Bitcoin underwent a correction.
Looking at the resistance and support lines, if the upside continues then Bitcoin will have to face resistance at $19,000. This resistance is support starting from June 2022 until the FTX case starts in November 2022.
Next resistance is at $21,500, however this level has little chance of occurring anytime soon, as resistance at $19,000 is quite strong. If there is a pullback then the strongest support is at $ 16,000, although the decline may be slow to the level of $ 17,000 first.
This increase allegedly occurred because traders speculated about the United States CPI report which will be out today, January 12, 2023 at 20.30 WIB.
The CPI prediction is at 6.5% while the CPI in last month's report was 7.1%. The difference of 0.6% is quite large in terms of inflation and with the consecutive increase in Bitcoin indicating the possibility of a bull trap, if the results of the report are above predictions then it is likely that the price of crypto will fall. Conversely, if the CPI can be below 6.5% then it is likely that Bitcoin will penetrate $ 19,000.
Bitcoin again broke the price of $ 18,000. Since the FTX case started, the Bitcoin price has been depressed below $18,000 even though in mid-December 2022 it had broken through this price in a short time. As of January 12, 2023 at 10.00 WIB, Bitcoin is trading at a price of $ 18,221.
Total IDR 3.7 Trillion Liquidated
In futures trading, reported by Coinglass, in the last 24 hours futures traders experienced liquidation of $243.2 million or around Rp.3.7 trillion with a total liquidated Long position of $26.29 million (11% of positions) and Short of $216.91 million ( 89% position). It can be seen that short position traders are much more exposed to liquidation, which means that this price increase was unexpected.
Also when Bitcoin broke $17,000 on January 10, 2023, the total liquidation was $186 million and this time it was bigger which indicates the average trader thinks that the price level above $17,000 is too high and expects a correction.
The position most affected by liquidation is Ethereum with a total liquidation of $ 112.22 million. Ethereum also experienced an unexpected upsurge by breaking through $1,400. The two Bitcoins with a liquidation total of $75.04 million.
Bitcoin Price Predictions
Bitcoin has again formed five consecutive green candles on the daily timeframe indicating strong buying momentum. The last time Bitcoin formed a consecutive green candle was in September 2022 and after that Bitcoin underwent a correction.
Looking at the resistance and support lines, if the upside continues then Bitcoin will have to face resistance at $19,000. This resistance is support starting from June 2022 until the FTX case starts in November 2022.
Next resistance is at $21,500, however this level has little chance of occurring anytime soon, as resistance at $19,000 is quite strong. If there is a pullback then the strongest support is at $ 16,000, although the decline may be slow to the level of $ 17,000 first.
This increase allegedly occurred because traders speculated about the United States CPI report which will be out today, January 12, 2023 at 20.30 WIB.
The CPI prediction is at 6.5% while the CPI in last month's report was 7.1%. The difference of 0.6% is quite large in terms of inflation and with the consecutive increase in Bitcoin indicating the possibility of a bull trap, if the results of the report are above predictions then it is likely that the price of crypto will fall. Conversely, if the CPI can be below 6.5% then it is likely that Bitcoin will penetrate $ 19,000.
Bitcoin again broke the price of $ 18,000. Since the FTX case started, the Bitcoin price has been depressed below $18,000 even though in mid-December 2022 it had broken through this price in a short time. As of January 12, 2023 at 10.00 WIB, Bitcoin is trading at a price of $ 18,221.
Total IDR 3.7 Trillion Liquidated
In futures trading, reported by Coinglass, in the last 24 hours futures traders experienced liquidation of $243.2 million or around Rp.3.7 trillion with a total liquidated Long position of $26.29 million (11% of positions) and Short of $216.91 million ( 89% position). It can be seen that short position traders are much more exposed to liquidation, which means that this price increase was unexpected.
Also when Bitcoin broke $17,000 on January 10, 2023, the total liquidation was $186 million and this time it was bigger which indicates the average trader thinks that the price level above $17,000 is too high and expects a correction.
The position most affected by liquidation is Ethereum with a total liquidation of $ 112.22 million. Ethereum also experienced an unexpected upsurge by breaking through $1,400. The two Bitcoins with a liquidation total of $75.04 million.
Bitcoin Price Predictions
Bitcoin has again formed five consecutive green candles on the daily timeframe indicating strong buying momentum. The last time Bitcoin formed a consecutive green candle was in September 2022 and after that Bitcoin underwent a correction.
Looking at the resistance and support lines, if the upside continues then Bitcoin will have to face resistance at $19,000. This resistance is support starting from June 2022 until the FTX case starts in November 2022.
Next resistance is at $21,500, however this level has little chance of occurring anytime soon, as resistance at $19,000 is quite strong. If there is a pullback then the strongest support is at $ 16,000, although the decline may be slow to the level of $ 17,000 first.
This increase allegedly occurred because traders speculated about the United States CPI report which will be out today, January 12, 2023 at 20.30 WIB.
The CPI prediction is at 6.5% while the CPI in last month's report was 7.1%. The difference of 0.6% is quite large in terms of inflation and with the consecutive increase in Bitcoin indicating the possibility of a bull trap, if the results of the report are above predictions then it is likely that the price of crypto will fall. Conversely, if the CPI can be below 6.5% then it is likely that Bitcoin will penetrate $ 19,000.
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