Content
@
https://opensea.io/collection/zorbs-eth
0 reply
1 recast
1 reaction
masoud 🎩 🔵 🐹
@masoudn
Bitcoin price has been stuck in a tight range but historical trends and on-chain data suggest a breakout could be coming soon. Bitcoin has been trapped between highs of $84,000 and $82,000 with buyers finding it difficult to push higher. Although the market is still cautious, historical patterns and data point to the possibility of a breakout. Back in June 2021, price was consolidating between the 21-week EMA (green) and 50-week EMA (blue) after a crash Right now, Bitcoin is consolidating between the same EMAs after a crash (By the way, $BTC indeed broke out from its triangle by late July 2021 to reach new All… Rekt Capital further observed that Bitcoin’s selling pressure has also been decreasing. Recent sell-offs have come with lower-than-usual volume, showing that sellers are losing momentum. This has opened the door for buyers, making last week a buyer-dominated period. Strong uptrends have resulted from similar shifts in previous cycles.
0 reply
0 recast
1 reaction