According to BlockBeats, on September 12, renowned cryptocurrency analyst Willy Woo shared his insights on social media regarding the current state of Bitcoin. Woo highlighted several key points about Bitcoin's short-term, mid-term, and macro trends.
In the short term, Woo indicated that the timing signals suggest a bullish fluctuation over the next 1-3 weeks. This optimistic outlook is based on recent market activities and trends observed in the cryptocurrency space.
For the mid-term, Woo noted that since the halving event in April, the supply-demand dynamics have been bearish. However, he mentioned that the past four weeks might have started to show signs of a reversal, although this has not yet been confirmed. Woo emphasized that more time is needed for Bitcoin to break its historical highs.
On a macro level, Woo pointed out that risk signals have validated lower lows, indicating that Bitcoin is not in a bear market. Instead, it is in a reaccumulation phase, waiting for the right conditions to emerge. This phase suggests that investors are gradually building up their positions, anticipating future growth.
