$BTC preparing for a strong price increase
Positive signals from the Bitcoin (BTC) market, showing the possibility that BTC may be preparing to enter a strong price increase.
1. BTC price behavior: Bitcoin price has returned to the $63,500 area and has stabilized after testing the $60,000 support area since early October 2024. Although the probability of a rate cut from the FED is not high, the price still maintains its growth momentum.
2. Comments from traders: Trader Skew said that BTC has reversed on the H4 chart, with the RSI index around 50 and strong spot buying demand. The important level BTC needs to regain is $65,000 to maintain the uptrend.
3. Liquidity and order book: Material Indicators liquidity analysis shows that support at $63,000 is strong, and if bulls successfully break above the 200D MA, BTC could reach a 2021 cycle ATH.
4. Miner data: Bitcoindata21 shows that the market is repeating old price behaviors, and the total stablecoin capitalization compared to BTC is showing the potential to open an uptrend.
All of the above signs suggest that BTC could continue its upward momentum, with many investors expecting a strong bull run ahead.
