At the time of writing, Trump is making statements at the signing ceremony and says that things in Iran are going very well in favor of the United States. BTC While over 81 thousand dollars found a buyer, the duration of the ceasefire, which Trump said was a few days, is getting longer and longer. BTC, which has risen by taking advantage of the opportunity, says that history may repeat itself.
Is Bitcoin (BTC) at the bottom?
In today’s analysis, Crypto Rand mentioned that the bottom signal, which was seen 5 times before, alarmed Bitcoin again today. The break experienced by BTC, which lingered in the channel for more than 70 days, also confirms the return from the bottom, but since every attempt to rise for months has brought about big declines, it may be appropriate for investors to wait for the weekly close.
Carl Moon also argues that Bitcoin has now reached the bottom and returned from here. The phases in the Wyckoff model are consistent with past bottom movements. This consists of 4 stages.
- Preliminary Support: The first point where the decline begins to slow down.
- Selling Climax: Where panic selling peaks and the price approaches its bottom.
- AR (Automatic Rally): The first reaction rise that occurs when sales stop.
- Spring: A short-term “fake” breakout, usually below the support level. This is done to scare the investor and make him sell his property; then the price recovers quickly.
Moon plotted on Bitcoin’s chart Wyckoff It predicts that it is in an “accumulation” phase appropriate to its structure and that the price may start an upward movement (by breaking the resistance level) when this scheme is completed.
It’s good to be careful
As the short-term investor cost is exceeded, profit sales and escapes begin. If the price can remain strong, it will not survive this process. However, if sales remain dominant before the rise matures enough, then the rise attempt will fail and sales will accelerate further.
In today’s evaluation, on-chain analyst Darkfost drew attention to STH exchange transfers and advised caution.
“BTC As it continues to rise, STHs are now making a profit. Approximately 30,000 BTC profits were sent to exchanges by STHs in the last 24 hours. “This figure is gradually approaching annual highs, so it is wise to be careful.”
