- Bitcoin whales have repelled over 40,000 BTC in a week and thus triggered sales pressure.
- A BTC course decline at $ 90,000 to 93,000 is considered a prerequisite for a new entry of whales.
Bitcoin is traded by $ 107,577.28 after a steep climb this week and thus approaches the milestone of $ 110,000. The last week evaluated data According to more than 40,000 BTC were sold at dumping prices, which corresponds to a value of over $ 4.3 billion.
The time is crucial. The increase in Bitcoin is reflected in the indecisiveness of large investors who are skeptical about the sustainability of the rally. The net effect is a sales pressure that triggered uncertainty in the entire industry, especially because of the fact that most BTC are sold when the dynamics had just started.
In addition, an abrupt increase of the Liveliness too record that indicates how active the coin movement is. This means that the long -term owners join the trend of the wave of exit and switch from the accumulation phase to the distribution phase. As soon as such holders have started moving coins, the markets usually tend to correct or a restless phase.
Two scenarios are emerging
The market analyst Doctor Profit has in his Detailed market analysis two options outlined. First, he discusses the possibility that Bitcoin will break through the resistance range of $ 113,000 in order to experience a rapid increase to $ 120,000 to $ 150,000.
But the scenario is too “clean”, which lowers the probability because there are usually consolidations and vibrations that lead to successful upward trends.
In his opinion, the more likely scenario is a rejection in the range of $ 113,000 and a subsequent return to the range of $ 90,000 to $ 93,000. There are some important technical factors in this area: a gap in the CME, considerable liquidity reserves and structural support.
Such a potential decline would serve to reset the leverage, to clean up weak positions and to reaffirm the overarching interest bully pattern. Dr. Profit also announced that he is in the area of the course dell and was waiting for a quick climb after the market has completed its liquidation.
Historical patterns indicate the next big step of Bitcoin
Despite short -term turbulence, the long -term prospects are good. Big Wallets continue to accumulate Bitcoin, even though whales sell. Doctor Profit refers to the macroindicists such as M2 money quantity growth and earlier accumulation areas that indicate that a big outbreak is imminent.
Interestingly, Bitcoin has been in the same consolidation corridor for 226 days. Earlier upward movements were created after 224 and 245-day consolidation areas, which indicates that BTC is in another potential outbreak.
The macroeconomic, technical and on-chain orientation supports this thesis. A renewed test of the $ 93,000 mark in the future could be the catalyst, which will again increase the market to $ 150,000 in the coming months.
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