Bitcoin Whales Propel BTC Towards Major Resistance Levels
Bitcoin shows signs of potential recovery, which emerges from a proven bullish pattern. Cryptocurrencies have managed to restore momentum, and whale investors have played a crucial role in their price rise.
Bitcoin is getting closer to critical resistance levels as larger holders accumulate more BTC.
Bitcoin investors are unsure
Whale holders have been accumulating Bitcoin Recent Medium-sized decline and volatile market conditions. Unlike smaller retailers who have been liquidating their shares, large investors are using price volatility to expand their portfolio. This trend highlights the growing gap between experienced investors and new immigrants.
February data revealed significant changes in wallet distribution. The number of wallets holding 100+ BTC has increased by 135, while smaller wallets holding less than 100 BTC have decreased by 138,680. This shift suggests that whale investors are strengthening their positions while small traders exit the market.
analyze The macro dynamics of BitcoinCost-based allocations indicate that the critical support ranges from $97,500 to $99,999. Last month’s data confirmed that nearly 200,000 BTC was accumulated at these levels, thereby enhancing price stability.
Additionally, investors with a cost base of more than $99,000 have acquired more than 150,000 BTC. This accumulation further strengthens the critical range between $97,500 and $99,999, adding the basis for Bitcoin’s next potential move.
BTC price forecast: recovery breakthrough
The price of Bitcoin is on track Once it reaches $106,100, the rising wedge pattern can be verified, which requires a 7% increase. However, for this, investors must resist the urge to sell prematurely and maintain upward momentum.
Given cumulative trends and whale activity, Bitcoin can first retest the $100,000 resistance. If this level is successfully violated, BTC may continue its upward trend, breaking away from the rising wedge and rising to $106,100 and above.
On the downside, failure to break $100,000 could lead to a decline, and Bitcoin may drop To $95,668 or less. This situation will invalidate bullish papers and expand market losses, thus undermining the current recovery trend.
Disclaimer
and Trust Project Guide, this price analysis article is only used for information purposes and should not be regarded as financial or investment proposals. Beincrypto is committed to accurate and fair reports, but market conditions may change without notice. Before making any financial decisions, be sure to conduct your own research and consult professionals. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
