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Bitcoin has reached a new high, and now there is a short-term bullish Outlook

Bitcoin hit a new all-time high, briefly surpassing $19,000, and traders are eagerly awaiting the next stage of growth.BTC price breaks all-time high and gains 5% of value in a few hours, quickly responding to this growth by surging to $19,200 and by November 4, when the price was at $18,853, it traded above $19,200. However, the trend quickly reversed, and BTC dropped to $18,020, marking the second-highest drop in the last three years. short-term trend.Overnight, bitcoin surged to $19,200, recording a jump of more than 9%, when the cryptocurrency reached a new all-time high. some traders started taking profits at around $19,000. However, this move quickly reversed, and today the asset is trading just $ 18,800, and the price is slightly down from the $18,958 it recorded on November 3. Consequently, many traders are now eyeing $19,000 as a potential area of profit.Additionally, data from CoinMetrics also confirms that professional traders are actively buying bitcoin. The company's research shows that whale, command and volume traders are constantly adding "smart" entries to their watch lists, which is a trend that began on November 3. It is currently trading at $ 18,520, and the price has yet to settle below $ 18,000.Recently, several exchanges have added support for Binance Futures, but as yet there are no markets for exchanges to trade bitcoin with. Therefore, traders should keep an eye out for such developments, as they can confirm new support levels on smaller timeframes.CoinMetrics also noted that the number of active bitcoin wallets has reached a new all-time high, which is an all-time high for the market. In fact, this is the highest level since the beginning of January 2018.What can I add to this…: this is what will happen if the price of bitcoin increases, and all the whales that own these wallets decide to sell BTC, leaving behind holders that are still holding profits. This can trigger a massive sell-off on the part of whales, and it is this factor that will determine the price.