Why Traders Growngly Expect Bitcoin “Reaccumulation” At $15K Before Next Run

Why Traders Growngly Expect Bitcoin “Reaccumulation” At $15K Before Next Run


[social-share align="stretched" style="button" size="m" template="6" animation="no" counters="yes" counter_pos="hidden" total_counter_pos="leftbig" buttons="facebook,twitter,parlerbutton,mail"]

The price of Bitcoin (BTC) surpassed $16,000 with strong momentum and has remained above the resistance-turned-support area since the initial breakout. Yet, traders are turning slightly cautious, anticipating a “reaccumulation” trend in the near term.

The term reaccumulation refers to investors gradually rebuying Bitcoin after a massive rally. This allows the dominant cryptocurrency to consolidate, rebuild momentum, and neutralized the overheated market.

There are several reasons to expect a reaccumulation trend or consolidation could occur in the foreseeable future. These factors are historical cycles, greed in the market, and high unrealized profits.

Trending: Dominion Exec Bragged That He Made Sure ‘Trump Is Not Gonna Win’

bitcoin price

The 1-hour price chart of Bitcoin. Source: BTCUSD on TradingView.com Historical Cycles Point Toward Bitcoin Reaccumulation in the $15K Region

Technical analysts, including John Bollinger, have said consolidation in the Bitcoin market is becoming increasingly likely.

Continue reading

[social-share align="stretched" style="button" size="m" template="6" animation="no" counters="yes" counter_pos="hidden" total_counter_pos="leftbig" buttons="facebook,twitter,parlerbutton,mail"]
You Might Like

Do NOT follow this link or you will be banned from the site!