Home » Ethereum BTC price nears $21.7K as whales boost Bitcoin ‘almost perfectly’ Reading 2 min Views 5 It’s all about the big-volume buy and sell zones for Bitcoin on short timeframes, data reveals. Bitcoin (BTC) sought to overturn August resistance on Sep. 10 as whale buy-levels dictated BTC price action. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Whales provide short-term price ceiling Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new multi-week highs of $21,671 on Bitstamp. The pair capitalized on a short squeeze which began early on Sep. 9, taking it around 10% higher after plumbing the lowest levels since the end of June. Analyzing the events, on-chain monitoring resource Whalemap noted that clusters of buy-ins by whales had effectively allowed Bitcoin to put in a floor. $19,000 had been a high-volume zone of interest for buyers previously, and this thus remained unviolated during the visit to two-month lows. As Cointelegraph reported, two other key whale support zones lie at $16,000 and $13,000. “Whale support at 19k worked almost perfectly to the upside,” the Whalemap team commented. After this impressive move, it would be quite logical (does that ever apply to bripto?) to cool off here LTF sweep already happened, momentum falling bit by bit If $BTC holds ~20.7K, then I think we'll run this to 23K later#Bitcoin pic.twitter.com/s852sVRmF6 — Phoenix (@Phoenix_Ash3s) September 10, 2022 Trader Pheonix meanwhile called for a more substantial consolidation next, followed by a return to $23,000. Ethereum expected to hit $1,900 Of additional interest to traders was Ether (ETH), which managed its highest since Aug. 19 on the day before retracing. $1,745 could still be beaten, popular Twitter account Il Capo of Crypto argued, before a comedown took hold. “Going straight to the $1800-1900 resistance,” he forecast in a fresh update. “I expect bearish continuation once this level has been reached. This could be on or before the merge date.” ETH/USD 1-day candle chart (Binance). Source: TradingView The Merge, due Sep. 15, was already keenly eyed as a potential source of volatility on both ETH/USD and beyond. Creditor reimbursements from defunct exchange Mt. Gox are notionally due to begin the same day, and both events will come two days after the latest Consumer Price Index (CPI) inflation data from the United States. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.