Bitcoin’s extensive price range to continue, not that ‘long’ long ‘stakes – analyst

Bitcoin may go to another extended stage of integration, with short-term indicators that suggest a more perspective, contrary to the broadly crypto community perspective, according to the research leader in 10x research.

While many crypto analysts predict the new bitcoin (Btc) All-time highs in June, Markus Thielen Says In an April 14 report that he was skeptical, pointing out that onchain data indicates “more of a bear market environment than a bullish.”

The short -term indicators of the potential potential market above

Thielen said the bitcoin stochastic oscillator-which compares to a particular closing price at a range of prices at a certain time to determine the momentum-shows the patterns that “more commonly a top or late-cycle phase rather than the early stages of a new bull run.”

“As a result, short -term signals do not align with longer indicators, which featured connectivity in the market outlook,” Thielen said.

“Bitcoin is no longer a parabolic ‘long-only-only’ retail-driven market,” he added, explaining today “demanding a more sophisticated, financial-focused approach.”

“Bitcoin’s rally last year was not driven by the typical speculation ‘crypto-bro’ but by long-term holders seeking to divert and adopt a purchase strategy,” Thielen said.

Over the past 12 months, Bitcoin has reached 32.80% and trades around $ 83,810 at the time of publication, According to In coinmarketcap.

Bitcoin price action may repeat 2024 pattern

Thielen reiterated his stance that Bitcoin could have been joining for an extended period, just like in 2024.

“Despite our careful optimization, we looked at Bitcoin as a trading within a wide range of $ 73,000 to $ 94,000, with a slight upward bias,” he said.

In March 2024, the Bitcoin reached all time high $ 73,679 Before entering a phase of integration, with the swinging within a range of about $ 20,000 until Donald Trump won the US election in November.

Related: Bitcoin price recovery can be mashed at $ 90k – here’s why

Many crypto analysts are viewing in June as the month in which Bitcoin could surpass the current high time of $ 109,000, which it reached in January before Trump’s inauguration.

Swan Bitcoin CEO said Cory Klippsten Cointelegraph in early March that “there is more than 50% chance we will see all the time high before the end of June this year.”

Sharing a similar view, Bitcoin network Economist Timothy Peterson And real vision Crypto analyst Jamie Coutts was also marked in June when Bitcoin reached a new high.

“It is absolutely possible for Bitcoin to reach a new full time before June,” Peterson said.

Meanwhile.

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