Summary
TLDR: Bitcoin’s price has hit a new all-time high and is expected to continue rallying due to investor accumulation. The Wyckoff pattern suggests a breakout, with a short-term target of $85,000. However, profit-taking by long-term holders could lead to a correction back to $60,000.
Key Points
1. Bitcoin’s price recently posted a new all-time high and has since been attempting to do it again.
2. Bitcoin price has been enjoying the bullishness emanating from the consistent accumulation noted by the investors, with close to 13,000 BTC worth over $926 million moving from exchanges to investors’ wallets.
3. Bitcoin price is breaking out of the pattern of resistance, indicating that BTC will continue to rally over the coming trading sessions.