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The cryptocurrency market has been under the influence of a downward trend since the end of 2021, and Bitcoin is facing significant resistance. 
According to analysts at CryptoQuant, a famous cryptocurrency analysis firm, Bitcoin needs to surpass a very important level to start a bull run. 
According to analysts, Bitcoin is struggling with long-term resistance formed by the 2021-2022 bear market bottom between $29,808 and $35,078. Analysts consider this resistance to be the last hurdle before the start of a bull rally from a technical analysis perspective. 
Simultaneously, Bitcoin's long-term resistance parallels supply in the 65.95-76.31 (%) profit range. According to analysts, this correlation further confirms the analysis mentioned above. The in-profit supply seen from January 2023 to date looks more like an early bull top and a high-profit run. 
Related News: <a href="https://en.bitcoinsistemi.com/there-is-a-700-million-option-expiration-earthquake-in-bitcoin-and-ethereum-tomorrow-here-are-the-details/" target="_blank" rel="dofollow">There is a $700 Million Option Expiration Earthquake in Bitcoin and Ethereum Tomorrow: Here are the Details</a> 
Interestingly, the supply movement in profit is conceptually similar to the January-May 2012 and October 2015-May 2016 periods. According to analysts, conflicting or uncertain price movements are likely to continue until BTC successfully overcomes the 65.95-76.31 resistance range. 
On a positive note, these indicators may indicate a phase of reaccumulation, according to analysts. Analysts note that this phase usually precedes a bull run and could signal an impending increase in Bitcoin's value. 
*This is not investment advice. 
 Continue Reading: <a rel="nofollow" href="https://en.bitcoinsistemi.com/cryptoquant-analysts-this-range-needs-to-be-breached-for-the-real-bull-in-bitcoin-to-start/">CryptoQuant Analysts: “This Range Needs to Be Breached for the Real Bull in Bitcoin to Start”</a>

CryptoQuant Analysts: “This Range Needs to Be Breached for the Real Bull in Bitcoin to Start”

Bitcoin Sistemi EN

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