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The correction of Bitcoin prices over the past week has caused mixed emotions among investorsWith Some indicators for possible further declines. However, according to one analyst, the current phase can be the last opportunity to buy before the next immense rally.
The popular captain of cryptographic analyst, Faibik, publishing on the social media platform X, believes that Bitcoin is ready for a stubborn breakthrough because he is still consolidating in a technical pattern, which usually precedes movement.
Tips for the falling wedge pattern in incoming stubborn breaks
Technical analysis Bitcoin Daily Candlestick Time Taber shows that the leading cryptocurrency has been consolidating in a falling wedge for almost four months. This falling wedge pattern, known in the technical analysis of its stubborn implications, began in December 2024 and covered the period from the highest level in January to intensive correction in March.
After reaching about USD 88,500 at the beginning of last week, Bitcoin spent the whole week at a gradual withdrawal, reaching the lowest level of USD 81,300. Interestingly, Captain Faibik interprets this inheritance as a vigorous consolidation, not about bears, saying that the correction phase is approaching to the end. He noticed that the Klin’s pattern suggests that it is to take place at the beginning At the end of the month.
The analyst predicted that the Bitcoins price will include around USD 109,000 at the end of the month. If it is implemented, this forecast will not only exceed the highest highest level of USD 108,786 in history, but also confirms that the correction that took place throughout the march was approaching the continuation of the wider bull cycle.
Bitcoin has fallen over the past two months, and February ended with a 17.5% decline, and the march ended with a 2.19% decrease in relation to the opening of the month. Therefore, bitcoins closing a month around USD 109,000 will also determine the end of the prolonged correction trend.
Whale accumulation increases, but retail investors hesitate
. The difference in behavior in relation to bitcoins He is becoming more and more apparent between experienced investors and novices. Captain Faibik pointed out that immense investors have actively accumulated bitcoins over the past few weeks, which usually precedes a significant action in the amount. This is revealed by an engaging record from Santiment on the analytical platform for a chain, which shows that over 30,000 BTC They were withdrawn Exchange of cryptography last week.
At the same time, many retail investors are off the beaten track, expecting further declines before making entries. The fact that whales do not wait for lower prices are A mighty vote of trust In low -term Bitcoin trajectory. At the time of writing, Bitcoin trads around USD 83,500, compared to a diminutive enhance in 1.9% in the last 24 hours, but still 23.3% below its highest level in January.
A distinguished picture from Unsplash, tradingview.com chart
