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Correction or Accumulation? The price of Bitcoin gives us crucial clues today. Discover it!
The cryptocurrency market is constantly moving and, as we see at this moment, the price of Bitcoin ($BTC) has shown interesting behavior. Through multi-timeframe analysis, we can better understand whether we are witnessing a normal correction or a strategic move by the 'whales'.
Short-Term Analysis (15m, 1h, 4h Charts):
In the short-term charts, we see significant volatility and spikes in volume. The price has attempted to overcome the resistance at $122,000, but has not managed to stay above that level. This indicates that there is selling pressure at the top, possibly from investors taking profits. However, the support levels in the $118,000-$120,000 range have proven to be quite solid, which could suggest a consolidation or accumulation pattern by large investors. The trading volume, although it has had spikes, is showing a downward trend, which could indicate indecision in the market.
Short-Term Analysis (15m, 1h, 4h Charts):
In the short-term charts, we see significant volatility and spikes in volume. The price has attempted to overcome the resistance at $122,000, but has not managed to stay above that level. This indicates that there is selling pressure at the top, possibly from investors taking profits. However, the support levels in the $118,000-$120,000 range have proven to be quite solid, which could suggest a consolidation or accumulation pattern by large investors. The trading volume, although it has had spikes, is showing a downward trend, which could indicate indecision in the market.
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BTC
84,124.75
+2.52%