๐ BTC Analysis - Oct 28.
The accumulation period continues - after an unsuccessful attempt by sellers to push the price below $33,400, Bitcoin continues to aggregate volumes in the range of $33,700 to $34,300.
Over the weekend, there is no expectation of high volatility, so in the short term, Bitcoin will likely trade within a sideways channel formed after the establishment of the local peak.
Judging from on-chain transactions, big players are leveraging current prices to prepare for future price appreciation. This serves as yet another confirmation of a bullish market structure.
๐จโ๐ป As before, I believe that following the accumulation phase, we can expect a breakout above $35,000, with further movement towards $38,000.
