cointelegraph.com
Bitcoin has dropped below $54,000 on April 20 while whale clusters suggest that the key areas for BTC to reclaim in the short term are $56,274 and $55,172.
The cryptocurrency market began to drop once again after an initial relief rally on Monday. Bitcoin dropped from $57,400 to sub-$54,000, losing the $55,172 whale cluster support level.
Several notable traders shared a similar sentiment. Pseudonymous trader, "Trader XO," said that while he is not bearish he does sees the potential of a deeper retracement.
He said:
"BTC Currently no position. Wouldnt say no to a deeper retracement around the 0.5 - 0.705 fib levels. Not bearish - Just wanting a better buying opportunity."