Bitcoin price mirrors 2019 “xi pump”, do you approach New BTC?

Bitcoin’s weekly graph was on the right path of less than $ 90,000 for the first time since November 2024, but a late rise pushed prices up after US President Donald Trump announced a strategic coding reserve.

Despite the closure of the monthly candle for February at $ 84,299, Close Week BTC (BTC) formed a Doji candle, which was closed at $ 9422. With the re -test of the general resistance of 95,000 dollars, one of the analysts remained cautious about the repetition of the “eleventh pump” for the year 2019.

Will Trump follow the XI Patp pump?

In 2019, during a long -term trading period that spanned from June to October, Bitcoin’s morale was low. However, on October 25, 2019, Chinese President Xi Jinping, which supports Blockchain technology, has raised a significant increase in prices.

However, in subsequent days, China imposed a series of repression on the origins and activities of encryption such as mining, which led to its lowest levels within 30 days.

Celler in cold blood, anonymous encryption analyst, Druze The similarities between the “Pump-Pump” and the current Trump pump, indicating that the gatherings of feelings can often fade due to a lack of strength, and soon adjusts the same market with the previous direction.

As shown in the scheme, follow the similarities between both periods of re -test similar to previous support ranges. In the first case of less than $ 10,000 in 2019 and less than 95,000 dollars in 2025, assets formed their lowest levels after 30 days. The analyst added that in 2019, traders quickly admitted the pump as “short pressure and managed to get some very good entries.”

Likewise, Magos, Check Trader, Mentioned This bulls needed to prove themselves this week and re -accept the high value zone (VAH) at $ 103,000 and the low value area (Val) at $ 91,000.

VAH and Val specify a range in which the majority of trading volume occurred during a specific time period on the graph, in this case, since November 2024. However, Magus has also been careful of the eleventh pump, saying

“This is a preparation of textbooks for me naturally, but if you are present for a long time enough, you remember that the Xi pump tells me that this step was exaggerated by feelings.”

Related: Trump’s encryption reserves are facing Congress, and it may limit the gathering

Bitcoin remains in the distribution, not accumulation

Data from Glassnode suggested that despite the BTC Rally, the basis of the STH (STH) cost has decreased to less than 1 after it initially moved it above 92,700 dollars. The current Bitcoin price is less than 92,700 dollars, which means that Sths has been in a “fragile mode” with a stream profit in Breakeven.

In addition, the data analysis platform also stated that the Bitcoin accumulation has remained less than 0.5 for 58 consecutive days, which will complicate a long period of net distribution.

The distribution period is defined as a stage of profit by investors, which are often in line with market corrections. Glassnode added,

“The accumulation and distribution stages have alternated within a window of 57-65 days on average. With the last reading at 0.9, the degree of direction indicates that large entities are still in a net distribution system, with no confirmed transition to accumulation so far.”

Related: The largest CME gap is ever at $ 85,000: 5 things to know in Bitcoin this week

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.