🔥🚀🌟 Bitcoin Breaks Key Resistance: $85,000 Next

Bitcoin’s price recently posted a new all time high and has since been attempting to do it again.

Looking at the chart, it seems that a long-term bullish outlook is the possible outcome. However, investor behavior suggests differently.

Bitcoin Breaks Out

Bitcoin price has been enjoying the bullishness emanating from the consistent accumulation noted by the investors. In the past week alone, the total supply of all exchanges has declined from 812,000 BTC to 799,000 BTC. This suggests that close to 13,000 BTC worth over $926 million has moved from exchanges to investors’ wallets.

On the 3 day chart, Bitcoin is validating the Wyckoff pattern, a technical analysis concept that identifies trends and potential reversals in financial markets. It analyzes price and volume movements to discern accumulation, distribution, or markup phases.

At the moment, Bitcoin price is breaking out of the pattern of resistance, which indicates that BTC will continue to rally over the coming trading sessions.