Bitcoin Bull Run: Is It Just Getting Started? Key Indicators Point North
Main Idea
Key indicators suggest a potential continuation of the Bitcoin bull run, with institutional accumulation and historical support levels pointing to possible future gains.
Key Points
1. The 50-week Moving Average (50-WMA) has historically served as a strong support level for Bitcoin, with past instances indicating 'BUY' opportunities when maintained.
2. Over 19,400 BTC (approximately $2.11 billion) have been transferred from dormant wallets, signaling institutional accumulation.
3. Short-term selling pressure persists, as indicated by the negative Cumulative Volume Delta (CVD), reflecting ongoing short-selling activity.
4. Analysts suggest that maintaining the 50-WMA could lead to Bitcoin price targets exceeding $130,000.
5. The article also mentions unrelated developments in the crypto space, such as South Korea's potential legal status for crypto firms and Ripple's CTO warning Robinhood users.
Description
The question of whether Bitcoin’s current bull run is nearing its end or merely pausing before another significant surge is hotly debated among crypto analysts. While some short-term pressure remains, several compelling indicators suggest an optimistic outlook, hinting that the rally might just be warming up for its next major leg, potentially pushing the leading … Continue reading "Bitcoin Bull Run: Is It Just Getting Started? Key Indicators Point North" The post Bitcoin Bull Run: Is It Just Ge...
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