Crypto Blog
Bitcoin’s price remains in a state of indecision, confined within a tight consolidation range bounded by the 100-day and 200-day moving averages.
This prolonged period of sideways movement indicates an overall equilibrium between buyers and sellers, with accumulation occurring at the lower end of the range and distribution at the top. Despite this, a bearish sign has recently appeared as Bitcoin broke below the 200-day moving average at $63.4K.
Bitcoin is squeezed within a narrow range, constrained by the 100-day and 200-day moving averages. This suggests that an impending breakout could determine its short-term direction. A decisive move outside this range would likely signal the next major trend.On the 4-hour chart, an ascending wedge pattern has formed during the recent prolonged consolidation phase.
BTC is consolidating after receiving support at this level, but sellers aim to break below the wedge’s lower trendline, which coincides with the $60K support region. Should this breakdown occur, the next critical target for Bitcoin will be the $58K support region.One key on-chain metric for understanding Bitcoin market behavior is the realized price UTXO age bands. This metric highlights the average price at which holders acquired their coins, broken down by how long they’ve held them.
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