Bitcoin Investors ‘No Longer Fear’ – Check Out This BTC Price Level Below

Bitcoin (BTC) held higher on October 2 after a “fantastic” break in bull market sentiment.

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

Trader seeks minimum price of $ 45,000 BTC

Data of Cointelegraph Markets Pro and TradingView The eerie calm in BTC / USD followed after Friday’s sudden upside volatility saw $ 3,000 added in an hour.

The classic “short compression” saw no significant recoil on the weekend, with Bitcoin holding levels above the August close.

For Cointelegraph contributor Michaƫl van de Poppe, it was now a question of what form a period of consolidation could take in the coming days.

“If we want to make any corrective move, I think you don’t want to see it go so low,” he warned in a YouTube update Friday.

“I think the deepest you want to see it go is this level of around $ 45,000.”

Nonetheless, Van de Poppe added that he was in favor of the bullish continuation as a conclusion to short-term price action rather than a deeper decline towards earlier week levels.

Meanwhile, a look at the buy and sell levels on major exchange Binance revealed incremental resistance in place starting at $ 48,000.

BTC / USD (Binance) buy / sell levels on Oct 2. Source: Material indicators

“Extreme fear precedes financial opportunity”

Equally optimistic was the trader and analyst Rekt Capital, who indicated that BTC / USD had been posting higher lows for four months, all of which had had strong buyer support despite the price rising each time.

Related: ‘Say Hello to Uptober’: Bitcoin Price Rises Above $ 47K in Minutes, Liquidating $ 270M in Shorts

Referring to measure the feeling Crypto Fear & Greed Index, noted that, overall, fear had left the market once again thanks to Friday’s price action.

“Following the fantastic BTC breakout move yesterday … investors are no longer afraid of Bitcoin,” he said summarized.

“Extreme Fear Precedes Financial Opportunity”.

Fear & Greed languished in its “extreme fear” zone as recently as Thursday, its score since rising from 20/100 to current levels of 54/100, described as “neutral” for sentiment.

Crypto Fear & Greed Index as of October 2. Source: Alternative.me