Select Page

Bitcoin Moves Sideways, But Looks Set For A Moon Week

Bitcoin Moves Sideways, But Looks Set For A Moon Week
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Bitcoin re-tested resistance on its way up to $60,000 and was pushed back to support. At the time of writing, BTC trades at $57,500 with sideway movement in the lower and higher timeframes.

BTC is moving sideways in the daily chart. Source: BTCUSD Tradingview

Anonymous trader IncomeSharks has set support at $53,000 with $59,000 as an initial price target which BTC managed to reach. However, selling pressure on that mark appears high with a lot of retail investors still driving the price action.

In the coming days, trader Pentoshi expects BTC’s price to gain enough momentum to break resistance to the detriment of altcoins. As the trader stated, Bitcoin’s dominance could recover in the short term, after dropping below 50%:

I think $BTC is going to break out in a big way this next week. 90 Day range PoC is confluence with all 4hr ema’s both acting as support. Last thing I want to do is be over-exposed on this move.

Analyst Willy Woo shares the same thesis and predicts a migration of capital from altcoins into BTC soon. As shown below, BTC’s dominance has entered a zone of “high probability” for a trend reversal, as Woo claimed.

Source: Willy Woo

Many investors wonder if BTC has reached a local top, as it did in January 2018 when a 3-year bear market began. However, Woo believes this cycle has different indicators with a lot of BTC switching from short-term investors to “strong holders”.

Source: BTC supply goes into strong hands

As seen above, in 2017 BTC had a parabolic run, and the number of coins held by short-term investors grew. The opposite has occurred in this bull run. As BTC’s price rises, the percentage of its supply going into long-term holders increases in an “unprecedented” fashion. Woo added:

No way are we entering a bear market. That’s obvious this week from price action, but not so obvious 2 weeks ago when the sky was falling. Coins moving to corporate treasuries likely making an impact.

Bitcoin’s Fundamental Support Bullish Sentiment

Several BTC indicators point towards price appreciation. Analyst William Clement indicated that Bitcoin’s supply held by entities with 100-1,000 BTC shows similarities with a period of consolidation during January.


At this time, the metric registered almost no oscillation until it increased. This coincided with BTC’s price gaining momentum and reaching new all-time highs. As seen below, the chart appears to be similar.

Source: Glassnode via William Clemente

During April, the derivatives market for BTC saw high variations in the funding rate across all exchange platforms. In contrast, May has been more stable more for this sector with funding rates belove 0.05% which suggests a “healthier” price action.

BTC’s May Funding Rates show stability. Source: Glassnode via William Clemente


Source: NewsBTC


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here



Select Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber