Summary
TLDR: Bitcoin’s price is likely in the middle of a bull run, with investors showing strong confidence by holding onto their BTC. Accumulation since February and low profit-taking suggest further price growth, supported by the upcoming halving event. A Wyckoff pattern indicates a potential rally, but a drop below a support level could lead to a correction. This analysis is for informational purposes only, and market conditions may change.
Key Points
1. Bitcoin’s price is likely in the middle of a bull run, with the potential to continue rallying after the halving event.
2. Investors holding onto their BTC demonstrate strong conviction, surpassing levels seen in 2021.
3. Accumulation of Bitcoin since February and consistent buying from exchanges indicate investor confidence in further price growth, especially leading up to the bullish halving event.