While the general crypto market is slowly returning, Bitcoin It continues to hold above the support levels in the main, which previously acted as a strong resistance a few days ago. The BTC's modified exploration attracts significant interests to investors, such as observed by increasing bullish bets, but the future may not all promise.
Bullish bets on the risk of climbing bitcoin
Bitcoin's long positions have increased dramatically following the recent uprising on the asset price, indicating strong faith in its prospects. Advanced investment and on-chain data platform alphractal reported Moving emotions with investors and retail investors.
According to the platform, Large long position Crypto exchanges are dominated in the last three months. The noteworthy increase in the long position suggests that investors and merchants are overly confident about the ongoing trend and betting at a rally in the near term.
While this development is important for the current dynamics in the BTC market, the alphractal warns a potential fresh wave of destruction. “After the recent price sneezing and short prevention, now holds longs can increase your risk,” the platform added.
Alphractal hints in a possible new wave of extermination As a super -hot market and increasing leverage positions have been preceded by sharp correction. It has increased concerns about maintaining BTC prices as it has diverted near the levels of the major resistance. Today, Alphractal encourages investors to stay careful and earn, adjust their stopping stops, and manage the risk of continuing.
Following the recent uprising, the updated interests and confidence of BTC investors are also observed in whales as they continue to accumulate ownership. Glassnode, an on-chain platform, revealed that whale investors return to full force, driving the The btc accumulation of accumulation of accumulation at positive levels.
The accumulation trend mark is a major measure that measures the intensity and consistency of large -bought buyers. Noteworthy, this measure has maintained a positive level since the beginning of April, reflecting the stable pressure of the purchase despite the change of price.
Data shows that the accumulation trend mark for purses holding at least 10,000 BTC is in a Near-perfect accumulation level of 0.9. Additionally, purses containing between 1,000 BTC and 10,000 BTCs pushed their racing mark to 0.7. Recently, purse addresses of 100 BTC and 1,000 BTC also moved toward accumulation as their score increased at a level at 0.5.
BTC price forms are opposite the head and shoulder pattern
To an x PostCrypto information platform signals have predicted a major move to new all-time highs for Bitcoin in the upcoming weeks. His prediction is based on an emerging bullish that is opposite head and shoulders in the day -to -day time.
Initially, the expert noted that the BTC was long from $ 76,000, suggesting that the owner could not reach this level again. Staring at the pattern, Bitcoin price It is expected to hit a new all-time high before retracing to the $ 92,600 threshold and forming the right shoulder. After the correction of $ 92,600, coin signals point to a massive breakout that will push BTC to $ 140,000 in July.
Featured image from Pixabay, chart from tradingview.com
Editorial process For Bitcoinist centered on delivering thoroughly researched, accurate, and unbiased content. We promote strict sources of sourcing, and each page undergoes our team's enthusiastic examination of the leading technology experts and timely editors. This process ensures the integrity, relevance, and value of our content for our readers.
