Analyst Willy Woo leans Bullish on Bitcoin (BTC), just over a week since the crypto King has recorded a new all-time high.
Woo tells his 1.2 million followers on the social media platform X that the risk signal of Bitcoin is down, an indication that the market risk falls.
According to For the widely followed analyst there is an increase in the liquidity of buyers, a fact that could increase the price of the Crypto king.
“We are set up for a new solid run on the long period of time.”
However, Woo says that the strength of Bitcoin’s recent Bullish Run of the price of $ 75,000 reaches around 6 April until the price of $ 112,000 registered on 22 May starts to weaken.
In the short term, the widely followed analyst out“
“This week is absolutely of crucial importance, if we don’t continue, then we will have a new consolidation period.”
Woo further out“
“In the short term, my greatest care is the speculators about the late Comer who take long positions, while an enormous amount of potential profitable to dump (Sopr) is ready.
This week’s spot buying will strongly influence the next 1-2 months price promotion. We are in a rotation. ‘
The Sopr, an acronym for the best output profit ratio, is an on-chain statistics used to determine the market sentiment by revealing or the Bitcoin that moves is sold with loss or profit.
Bitcoin acts at $ 107,531 at the time of writing.
Follow us on X” Facebook And Telegram
Don’t miss a beat – Subscribe to get e -mail notifications directly to your inbox
Check price promotion
Surf the Daily Hodl -Mix
Generated image: midjourney
Credit : dailyhodl.com
