Bitcoin Enters Re-Accumulation Range After Crash Below $90,000, What To Expect

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Bitcoin Enters Re-Accumulation Range After Crash Below $90,000, What To Expect - NewsBTC

Quick Summary:

Particularly, this crash saw Bitcoin losing its foothold at the $90,000 price level and extended a crash across multiple cryptocurrencies. Technical analyst Rekt Capital identified this pullback as a downside deviation within a re-accumulation range, hinting at potential market changes in the coming weeks.

Rekt Capital describes this as a “downside deviation” below the range low, which is a pattern Bitcoin has exhibited multiple times in past cycles. What To Expect From BTC’s Next Move Re-accumulation phases are generally highlighted by buying pressure among a few whales and retail investors while the larger market continues to sell.

After months of sustained upward momentum, Bitcoin started to consolidate below the $100,000 price level, spending most weeks trading between $90,000 and $100,000. Related Reading: Bitcoin Long-Term Holders Officially Enter Into Greed Territory, Is This Good Or Bad For Price?