3 Key Signs That Bitcoin (BTC) Is Preparing For a Big Price Move

3 Key Signs That Bitcoin (BTC) Is Preparing For a Big Price Move

Bitcoin had a fierce and fierce start to Q2 as its price fell to a five-month low of under $75,000 in early April. The massacre took place on the darkest day (for now) when the US president intensified a trade war against other parts of the world.

As his policies and intentions became clearer and he suspended tariffs on all countries except China, the BTC began recovering, earning $20,000 in the coming weeks. However, it was above $90,000 more than a week ago, which slowed the asset in close channels ranging from $93,000 to $95,000.

There was an attempt to break down yesterday, but the bottom boundary has become stronger and BTC is now returning the top test. Several key metrics suggest that this integration phase is nearing its end, suggesting a substantial price movement in the future.

Squeeze the BBS

Popular Crypto analyst Ali Martinez highlighted the recent decline in volatility shown by squeezing bollinger bands. The three-row momentum indicator with a simple middle moving average (SMA) is tightened on a four-hour BTC chart, with Martinez warning that “large price movements may be around the corner.”

Although BBS is a secondary technical tool and does not clearly indicate the direction of movement, analysts said there is a prominent opportunity to head north if BTC outweighs its main support of $93,198.

He added that BTC could surge towards a new all-time high of around $114,230, if above $95,870.

Accumulation Skyrocket

The second and third signs suggesting a future big BTC move are somewhat similar, but worth differentiating. On the one hand, whales are accumulating. As reported yesterday, these market participants acquired $4 billion worth of Bitcoin within just two weeks.

Meanwhile, there was the BTC ETF, which defeated previous negative streaks, recording positive streaks from April 17th to April 30th. This trend ended yesterday, with a $56.3 million outflow.

Martinez highlighted these substantial purchases and noted that the accumulation propensity score for BTC approaches 1.

Bonus: The number of Bitcoins sitting in exchange is gradually decreasing, reaching its lowest level in five years. This is another bullish sign of a future price movement for the underlying asset, but Swann analysts explained why it hasn’t responded yet.

Special Offer (sponsor)

Binance Free $600 (For cryptopotato only): Use this link to register a new account and receive an exclusive $600 welcome offer with Binance (detail).

Exclusive offer for Bybit’s Cryptopotato Leader: Use this link to sign up and open a free $500 position on your coin!

  • Related Posts

    “Helping Companies Reduce Human Error”: Elliptic’s James Smith on Using AI to Track Crypto Crimes

    12 years ago, when Elliptic was launched on the mission of bringing compliance and anti-money laundering tools to the Crypto world, most companies simply didn’t mind. “In the early days,…

    Eric Trump Slams Modern Financial System, Calls SWIFT “Broken” at Token2049 Dubai

    Eric Trump, executive vice president of the Trump organization, made fierce indictments of the global financial system during a panel at the Token2049 conference in Dubai, calling the average person…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Key Events to Watch, Upgrades, Unlocks & Regulations

    Key Events to Watch, Upgrades, Unlocks & Regulations

    Analysts raise red flags on ALPACA’s 1,000% rally after delisting news

    Analysts raise red flags on ALPACA’s 1,000% rally after delisting news

    “Helping Companies Reduce Human Error”: Elliptic’s James Smith on Using AI to Track Crypto Crimes

    “Helping Companies Reduce Human Error”: Elliptic’s James Smith on Using AI to Track Crypto Crimes

    Meta Earth unveils major airdrop policies and future strategies at Token2049 Dubai

    Meta Earth unveils major airdrop policies and future strategies at Token2049 Dubai

    Stablecoin supply on Binance’s BNB Chain explodes 30% due to USD1’s $2.1B launch

    Stablecoin supply on Binance’s BNB Chain explodes 30% due to USD1’s $2.1B launch

    Ripple Says UK Crypto Regulation Could Unlock Massive Growth

    Ripple Says UK Crypto Regulation Could Unlock Massive Growth