Why buy Bitcoin now better than the futures as the price of BTC is merged into a wedge decrease
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Correct the bitcoin price during the past week Mixed feelings between investorswith Some indicators indicate For more declines. However, according to an analyst, the current stage can represent the last opportunity to buy before the next main gathering.
The famous encryption analyst Captain Vibik, who is published on the social media platform X, believes that bitcoin is ready for bullish penetration as it continues to integrate into a technical pattern that usually precedes the upward movement.
Sufficient spoilers hints in the coming upright collapse
Technical analysis Bitcoin Daily Candlestick Timeframe explains that the leading cryptocurrency was combined into a falling wedge for about four months. This falling pattern, known in the technical analysis of its upcoming effects, began in December 2024, and included the period from its highest level ever in January until the intense correction in March.
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About 88,500 dollars in the peak at early last week, Bitcoin spent the entire week a gradual decline, reaching $ 81,300. Interestingly, Captain Vibik explains this decline as a healthy unification instead of a declining reflection, saying that the correction stage is now approaching its end. He pointed out that the sorry pattern indicates the existence of an outbreak at the beginning of April and that this penetration can push the price of bitcoin towards the highest new level ever. At the end of the month.
The analyst expects that the price of bitcoin will trade about $ 109,000 at the end of the month. If you realize that these expectations will not only exceed the highest level around the time of $ 108,786, but also confirms that the correction that he played throughout the month of March was built towards a continuation of the broader bull cycle.
Bitcoin has decreased over the past two months, as February ended with a decrease of 17.5 % and March ends with a 2.19 % decrease from opening the month. As such, the Bitcoin that closes the month about $ 109,000 will also represent the end of the long correction direction.
The accumulation of whales increases, but retailers are hesitant
the The difference in behavior towards bitcoin Among the experienced investors and new expatriates have become more clear. Captain Vibik indicated that big investors are accumulating bitcoin activity in the past few weeks, which usually precedes large upward prices. This is detected by an interesting scale from the Santimer series analysis platform, which indicates that more than 30,000 BTC It was withdrawn from Exchanging encryption last week.
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Meanwhile, there are many reservation investors on the margin, and they expect more declines before entering the entries. The fact that whales do not wait for the low prices are a A strong confidence vote In the path of bitcoin in the short term. At the time of writing this report, Bitcoin is traded by about $ 83,500, with a modest profit by 1.9 % over the past 24 hours, but still sitting by 23.3 % less than the highest level in January.
Distinctive image from Unsplash, Chart from TradingView.com
