Bitcoin is consolidating above 104,000 USD, currently priced at 104,896 USD, with a slight gain of 0.87% in the past 24 hours. The accumulation trend suggests increasing confidence among investors and whales.
Addresses holding between 100-10,000 BTC show significant accumulation scores, reflecting strong long-term conviction. However, some analysts warn of a bearish divergence in the RSI, which might indicate weakening buying strength.
Technically, Bitcoin shows bullish signals on the 2-hour chart, respecting an ascending channel. Key support has formed, and if Bitcoin can surpass 108,000 USD, the possibility of reaching 120,000 USD increases.
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