Meme coin analysis Meme coin have tested the demand zone 3 | Meta Encrypt Institute on Binance Square

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Meme coin analysis
Meme coin have tested the demand zone 3 times and with that it's going to the upside from price of 1.2 to 1.4.
It's forming triangle

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Evaluating Bitcoin’s Recent Price Increase Crypto analyst Willy Woo recently provided insights into BTC’s volatility, suggesting that while recent price corrections have reduced some of the market’s excessive leverage, a full recovery is still distant. According to Woo, the market continues to face excessive speculation that needs to be addressed for price stabilization. Woo noted that the recent rise to $62,000 was more of a technical rebound rather than a fundamental recovery, indicating deeper issues still affecting the Bitcoin market. He described the latest price increase as a technical correction driven by automated trading algorithms, rather than a genuine surge in buyer demand. He pointed to specific patterns, such as the TD9 reversal and hidden bullish divergence, indicating a short-term recovery but not necessarily long-term health. Woo stated, “So far, this technical reversal is underw However, he emphasized that this recovery does not reflect underlying fundamental strength. The market is merely adjusting from previous overselling without any significant changes in the actual supply and demand dynamics of Bitcoin. For a true bullish reversal in fundamentals, there needs to be an increase in the number of spot buyers purchasing coins directly from exchanges, a trend that is not yet evident. Woo also noted, “We are still waiting for the hash rate to rise again, which is a clear sign that miners have stopped selling to fund hardware upgrades.” He concluded, “So, be prepared for boring price action for several more weeks. This is not the time for moonshots. It’s time for speculators to either liquidate themselves or become disheartened and close their positions. Only then can we move forward. The best path here is to stack up and let the weak hands get out.” In-Depth Market Insights Market data on Bitcoin’s open interest and trading volume further exacerbate its bearish outlook.

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