Bitcoin

<ul><li>Bitcoin faces long-term resistance from the 2021-2022 bear market base, ranging from $29,808 to $35,078.</li><li>Technical analysis indicates this resistance is a pivotal barrier before a potential bull run.</li><li>Profitable supply patterns from January 2023 resemble bullish early tops and high-profit runs.</li></ul>According to a recent tweet by CryptoQuant, a leading on-chain data analytics provider, <a href="https://cryptotale.org/bitcoin-hovers-near-27-4k-as-cryptocurrency-market-displays-mixed-signals/" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) has grappled with long-term resistance stemming from the 2021-2022 bear market base, which lies between $29,808 and $35,078. From a technical analysis standpoint, resistance from such a bear market base is often the last hurdle before a bull run can truly take off.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/c7fb41d98d164594add9a6dbccc24308.png" />Additionally, when delving into Bitcoin&#39;s supply in profit, it aligns with this observation. The resistance range for Bitcoin&#39;s supply in profit stands between 65.95% and 76.31%. This range corroborates the aforementioned resistance and suggests that the profitable supply from January 2023 onward mirrors the patterns of a bullish early top and high-profit run.Furthermore, for those familiar with Bitcoin&#39;s historical data, the movement of its supply in profit is strikingly similar to the periods of January-May 2012 and October 2015-May 2016. Such patterns often lead to mixed or uncertain price actions, especially until the resistance range of 65.95-76.31% is decisively breached. On the flip side, these patterns could also hint at a potential re-accumulation phase for the cryptocurrency.Read full article at <a href="https://cryptotale.org/bitcoins-historical-patterns-suggest-potential-market-shifts-ahead/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Bitcoin's Historical Patterns Suggest Potential Market Shifts Ahead

CryptoTale

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