Bitcoin Accumulation Period Continues But Another Big Flush Out is Possible
Bitcoin markets are still in a sideways accumulation zone but analysts warn that another big flush out could occur before any signs of recovery....
- Bitcoin markets are currently in a sideways accumulation zone.
- Analysts warn of a potential major correction before any signs of recovery.
- Market analyst "PlanB" predicts the next bull market will occur after the 2024 halving and last for about eight months.
- Fellow analyst "Rekt Capital" believes Bitcoin is in an early stage bull market but expects a possible major correction in the next seven months.
- MN Trading founder Michaël van de Poppe notes the importance of Bitcoin closing above the 200-week EMA for bullish continuation.
- Sentiment remains at "fear" with a fear and greed index figure of 46.
- Bitcoin prices have seen a spike to $26,700 but have retreated to $26,611 at the time of writing.
- Bitcoin is up 4% over the past week and 2.5% over the last month, consolidating around current levels since mid-August.
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The sentiment remains at "fear" with a fear and greed index figure of 46.
You May Ask
What phase are Bitcoin markets currently in?When does "PlanB" predict the next bull market will occur?What does "Rekt Capital" believe about Bitcoin's current market stage?What is the sentiment in the Bitcoin market according to the fear and greed index?How have Bitcoin prices performed over the past week and month?