‘Violent’ Bitcoin breakout due as BTC open interest nears all-time high

Bitcoin (BTC) stayed rangebound at the Oct. 6 Wall Street open with traders already planning for a “violent” breakout.

Bitcoin whale activity highlights the importance of $19,000

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it moved up and down by only a matter of a few hundred dollars on the day.

The amount of $20,000 formed a focus for the pair, which meandered in step with consolidating U.S. equities and dollar strength.

With no spot catalyst in sight on short timeframes, on-chain analytics resource Whalemap turned to largescale buy and sell points to sketch out likely support and resistance.

To the downside, $19,174 marked the site of whale buy-ins, suggesting its continued strength as a line in the sand.

Bullish progress, meanwhile, would have to contend with a cloud of resistance at $21,500.

“Don’t be distracted by the noise,” the Whalemap team commented alongside a chart showing the key lev