A price battleground is a crucial price range, where buying and sales forces engage in an intense and decisive competition. It is here that the final outcome will be expected to confirm BTC’s general direction as well as confirm whether it is in a correction or bull run.
The next phase of Bitcoin expansion will be defined by this zone
The X postBitcoin Vector is a reporter of institutional grade who has pointed out that BTC entered the decisive battleground, between $110,000 to $115,000 which may determine the course of the cycle. In the past seven days, spots demandThe US-China Trade War, the main driver of rallies in the past, has been a major drag on the market.
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BTC was able to climb back up above $110,000 as the tensions subsided. Even though recovery Momentum is flat and negative. If there’s no spot demand or sustained inflow, then the bullish structures could quickly fade, exposing BTC to another drop.
The demand for the product will continue to grow. momentum BTC moves deeper on the battlefield when it turns. If BTC fails to keep this distance, it may be forced to retreat and raise the white flag.
Sykodelic has been a crypto trader full time since 2009. offered The prediction was made with a high degree of optimism that Bitcoin would be at its All-Time High again by the middle of this month. BTC is still thriving in an environment of fear and uncertainty, which has a negative impact on the market.
The stage is now complete. cycle Where disbelief is dominant. The traders then convince themselves that the rally has ended, which is when BTC begins to rise again. When BTC reaches its old highs, the traders start to believe in it again. This usually happens after another large flush has cleared out all late-comers.
BTC’s price has moved back up above its Simple Moving Average (4-hour, 50-period SMA). Bitcoin has tested and retested this level successfully each time. the price The expansion continues. “I think the worst is behind us,” Sykodelic noted.
It is the battle for supply that shapes the next cycle.
The Bitcoin market today is a tug-of war between two strong forces. According According to BitBull the ambassador for MGBX_EN long-term investors (LTHs), have constantly been offloading coins while the institutions aggressively absorb the supply via Spot ETFs, Digital Asset Treasuries, and Digital Asset Treasuries.
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BTC continues to dominate the Treasury holdings, which have quietly exceeded $120 billion. This quarter alone, spot ETFs have taken in tens and thousands of coins. LTHs continue to sell faster than DATs and ETFs. BTC usually loses short-term momentum if this type of LTH distribution is accelerated.
It is not necessarily a bearish set-up, but the downside remains limited temporarily until the selling pressure eases. Institutions are therefore a key player in the market. buying The bottoms are not important, but the strength. Next major breakout depends on long-term holdings returning to the accumulation mode.
Chart by Tradingview.com. Image from Pixabay.
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Source: www.newsbtc.com
