Bitcoin forming an ascending triangle on the daily chart. Towards the end of the week it should break through the resistance of $5350. Targets are $5800/$6000, but I don’t think we will break through it.

BTC richlist is showing us that major Bitcoin addresses have been accumulating last month. Does this show us that this is clearly the accumulation phase and they won’t allow the price to go under $3150 anymore. My guess is that the accumulation will be between $3000 and $6000 for the rest of the year, when i expect a breakout to occur.

#bitcoin #cryptocurrencies

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11 COMMENTS

  1. Note: at 9:00 the one that is "selling" is a Binance cold wallet. This is no selling activity, but simply BTC going from Binance cold to hot wallet. Probably because people were withdrawing their BTC from Binance to their own cold storage wallet.

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