Bitcoin (BTC) Accumulation Zone Identified, What's Next for Price?
Amidst the bearish outlook, Bitcoin has showcased a very defined accumulation level according to evidence gleaned from on-chain data. Sharing his insights, crypto analyst @Ali_Charts showed that the digital currency is experiencing an intense accumulation around the $26,360 and $27,160 price levels respectively. advertisement According to the data presented, a total of 2.36 million addresses purchased a total of 1 million BTC within this range. The accumulation is notably recent and we may soon begin to see the impact in the price of the cryptocurrency moving forward. Bitcoin traded at a low of $25,878.43 and with the broad uncertainties that was presented to the market over the past month, it failed to breach the resistance point above $30,000. With the effect and impact of the supply scarcity the recent accumulation is bound to introduce, we may see the digital currency soar beyond its current monthly high of $29,820.13. Bitcoin Price and Fundamental S...