Bull market 📈 | Trade Eagle on Binance Square

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Bull market 📈 

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The sudden activation of long-dormant "whale" wallets has once again put the spotlight on Bitcoin's potential trajectory toward a new all-time high. When large amounts of Bitcoin, held since the early days, move for the first time in years, it draws attention for several reasons. These transactions may signal a shift in the market sentiment of early adopters or suggest intentions to sell or redistribute assets after years of silence. This specific wallet, holding 749 BTC since 2012, recently transferred out 159 BTC, valued at approximately $11.32 million, marking its first movement since November 2012. That transfer in 2012 was just 10 BTC, worth only about $110 at the time. With the wallet still holding BTC worth around $42 million today, the immense growth underscores Bitcoin's explosive price appreciation—over a 6,500-fold increase in value. Analysts see this as potentially significant; a rise in whale wallet activity can either signal confidence in further price gains or hint at plans to cash out, possibly impacting the supply-demand balance in the market. Interestingly, this isn't an isolated incident; multiple dormant wallets, including some speculated to be linked to Satoshi Nakamoto, have awakened recently, and some have moved Bitcoin to exchanges—often interpreted as a precursor to selling. Yesterday’s breakthrough of Bitcoin’s $70,000 resistance, turning it into a support level, has fueled bullish sentiment. The current price around $72,402 brings Bitcoin closer to its all-time high of $73,737. Analyst Jelle sees the $72,000–$73,737 range as Bitcoin’s last major resistance before a potential breakout to new highs, while Amber_D anticipates a push above $71,000 to a strong resistance zone, with a close above $72,000 potentially opening doors for price discovery at unprecedented levels. These movements leave the crypto community speculating about Bitcoin’s next target.

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People often ask, "When will altseason start?" My answer: it probably never will, at least not like the good old days. Those big accounts hyping up a mythical "altseason" are just selling dreams. I've witnessed enough cycles to see the change. Take the 2017-2018 bull run — it was explosive, arguably one of the best, and the market was fundamentally different. There weren’t endless coins, futures trading was scarce, and most altcoins paired with Bitcoin. When Bitcoin pumped, nearly every altcoin followed. But now, it's a different landscape. Money just rotates, jumping from one hot trend to the next. Traders are throwing cash at meme coins for quick gains, and narratives are constantly in flux. The truth is, the market no longer supports those broad, all-encompassing surges. If you’re still hoping for the 2017-2018 style altseason to return, it’s time to let that dream go. Today, success requires focus, adaptability, and knowing which trends have potential longevity. Sitting around waiting for your altcoin to pump is a losing game. Instead, find the trends that are gaining traction — because in this landscape, only those who stay sharp and pivot quickly will come out on top.

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The chart you provided shows Bitcoin's (BTC) performance against Tether (USDT) in a perpetual (Perp) contract on Binance. Here are some key points based on the technical indicators visible: 1. **Price Movement**: - BTC/USDT is trading around 71,862 with a +4.63% gain. - The price has recently reached a high of approximately 71,979, suggesting bullish momentum. 2. **Moving Averages**: - Exponential Moving Averages (EMAs) for 7, 25, and 99 periods are shown. - EMA(7) at 68,991, EMA(25) at 66,497, and EMA(99) at 63,323. - The current price is above all these EMAs, indicating a strong bullish trend. 3. **Volume**: - Volume appears consistent, with some spikes aligning with upward movements, supporting the price rise. 4. **MACD**: - The MACD line (yellow) is above the signal line (blue), with a positive MACD of 241.47. - This crossover is a bullish signal, suggesting continued upward momentum. 5. **RSI**: - The Relative Strength Index (RSI) readings for various periods are: - RSI(6): 79.33, RSI(12): 71.88, RSI(24): 64.89. - These values indicate overbought conditions, especially with the shorter RSI (6) over 70, implying a potential pullback. ### Summary: - **Bullish Trend**: BTC is in a strong upward trend, confirmed by its position above EMAs and a positive MACD. - **Overbought RSI**: The RSI levels suggest caution as BTC may experience a short-term correction. This is a favorable scenario for those holding BTC, but overbought indicators suggest monitoring for any signs of reversal.

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