BTC could go as high as $ 37,000, but one trader says Bitcoin’s price cap will be “a number that cannot be understood.”

The price of Bitcoin (BTC) retested $ 40,000 on Sept. 26 as the battle for the week’s close raged..

1-hour candlestick chart for the BTC / USD (Bitstamp) pair. Source: TradingView

It is “unlikely” that the price of Bitcoin will remain below 40,000 US dollars.

Data from Cointelegraph Markets Pro and TradingView showed that the BTC / USD pair fell to $ 40,800 overnight, after a previous unsuccessful attempt by sellers to return to resistance at $ 40,000.

Amid stubborn conditions keeping Bitcoin price action in a tight range, Sunday’s attention was focused on where the long-term minimum might be. Analysts also remained noticeably optimistic about what might come next.

BTC could go as high as $ 37,000, but one trader says Bitcoin’s price cap will be “a number that cannot be understood.”
BTC could go as high as $ 37,000, but one trader says Bitcoin’s price cap will be “a number that cannot be understood.”

In one Series of tweets which reflects the general state of the Bitcoin price, Popular trader Pentoshi aimed for $ 37,000 as a potential minimum.

“That looks healthy in HTF and likely to build a foundation on the highest high so far on the way to all-time highs and possibly a higher low here at a starting point for summer“commented popular Twitter retailer Pentoshi in a series of tweets reflecting the general state of Bitcoin.

“While I think trading in BTC can spike up to 37,000 for a short time, it’s unlikely to be around for long.”

Pentoshi pointed this out significant offers from buyers ranging from $ 36,000 to $ 40,000. These, as Cointelegraph also reported, are rare in terms of magnitude.

“We can see that Offers were stacked on exchanges at these levels to fill thembut I’ve never seen them in large numbers on most exchanges, ”he wrote.

“The low is closer than you think, and the high is probably a number that you can’t understand right now.”

BTC / USD (Binance) Buy and Sell Levels as of September 26th: Essential Indicators

Huobi is said to “retire” all Chinese users

In other places Concerns about China were just as difficult to remove from the mood.

The Huobi exchange had 10,000 BTC inflows as it prepared to cease its Chinese operationsHowever, these are small compared to those observed last month.

BTC balance chart in Huobi. Source: Bybt

To comply with local laws and regulations, Huobi Global has suspended account registration for new users in mainland China effective September 24, 2021 (UTC + 8).“, It says in a statement published on Sunday by the stock exchange.

“Huobi Global will expire existing user accounts in mainland China before midnight (UTC + 8) on December 31, 2021 and will ensure the safety of user resources.”

As Cointelegraph reported despite extensive media coverage, Nothing has changed about China’s stance on crypto, with its crypto ban, which has been largely unchanged since September 2017.

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