š BTC Analysis - Nov 13.
Over the weekend, BTC didn't show significant volatility, spending these days in a narrow range of $37,300 to $36,900. As Monday approached, volumes slightly increased, but a clear local trend is yet to be determined.
At the moment, the market is in an accumulation phase, with major players continuing to move coins to illiquid (cold) wallets at a rate of ~71,000 BTC per month.
Given the current situation, it can be affirmed that the long-term trend remains bullish. Despite a potential local correction, I anticipate BTC to climb to new highs for this year in the coming weeks.
š To demonstrate a rise to $40,000, buyers need to restore the momentum impulse and break through the horizontal resistance at $38,000. A sustained move above this level will serve as strong bullish confirmation.
