A large upward channel has formed on the 4-hour chart, and the price is gradually rising in it. However, the upper boundary of the formation pushed the price down, and BTC failed to exceed the 1,100,000 mark.
However, #cryptocurrencies can grow until the channel is broken.
This is especially true when the market rises above the upper boundary of the pattern, which could lead to continued aggressive bullish action above the aggressive 100k level.
The price chart shows that #bitcoin has not exceeded the 100k mark, but this could be due to several reasons why it has not been able to continue rising these days.
Analyzing the Whale Ratio in #the stock market can help us figure out why.
The Whale Ratio measures #BTC whale activity and shows the ratio of large exchange deposits to total deposits.
As you can see from the chart, the ratio has dropped significantly over the past few weeks, indicating that whales are no longer actively selling coins.
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